Starting in the business

fmc123412 · #1 07-17-2006, 10:03 AM

People,

I am planning to start in the horse business as an owner.

Firstly as a small owner, but later...if everything goes well...i intend to expand the business. My idea is to reinvest all the money it eventually returns...

Do you know what book can help me??

I found Make Money With Horses (by Don Blazer and Meribah Small)

I would appreciate any alternatives!

Thank you!

dellinger63 · #2 07-17-2006, 10:23 AM

Man I wouldn't go it alone at least not at the start. Find a partner that has already been in the business or a trainer that is willing to invest as they will teach you much more than any book can.
I've also heard from many owners that horseracing is a hobby and not a way to riches. All of the ones I know have seperate businesses that finance their hobby.
In Chicago our leading owner the last 3 years running has reported a net LOSS each year and 2 back he reported losses in excess of $1 million.
Now breeding and pinhooking are a different story.
Good Luck

#3 07-17-2006, 10:27 AM

First find a trainer that you trust and have a decent impression of after meeting him.
Clearly outline your objectives to the trainer!!! If you aren't on the same page and don't have an understanding of what you are trying to accomplish then it will not work.
Good luck.

#4 07-17-2006, 10:41 AM

This is the book we give out to potential investors that are new to the game. Send me a personal message and I will see if I can mail you one.

http://www.amazon.com/gp/product/158...lance&n=283155

fmc123412 · #5 07-17-2006, 11:38 AM

Quote:

Originally Posted by dellinger63

Man I wouldn't go it alone at least not at the start. Find a partner that has already been in the business or a trainer that is willing to invest as they will teach you much more than any book can.
I've also heard from many owners that horseracing is a hobby and not a way to riches. All of the ones I know have seperate businesses that finance their hobby.
In Chicago our leading owner the last 3 years running has reported a net LOSS each year and 2 back he reported losses in excess of $1 million.
Now breeding and pinhooking are a different story.
Good Luck

Man,

I am taking this as a hobby, too! I have a full time work and I will not left this job in order to own horses...I will just try to make things right, in order to do the best job I can...I am willing to start breeding in the future, also...but this will depende on my success as as owner.

I tried a partner once....and this person gave up, when we were about to buy a claimer....here in my country (Brazil), there only very few people interested in the horse industry, like me....but I think its a growing industry...mainly because of exports to the US and Europe.

Now I decided to go for an unraced colt/filly.....I also dont know too much trainers...and the 1 or 2 I know are broken to enter in a partnership with me...

I dont know....i am thinking seriously about....but its a very difficult decision.

fmc123412 · #6 07-17-2006, 11:39 AM

Quote:

Originally Posted by oracle80

First find a trainer that you trust and have a decent impression of after meeting him.
Clearly outline your objectives to the trainer!!! If you aren't on the same page and don't have an understanding of what you are trying to accomplish then it will not work.
Good luck.

Thank you!

I will talk with some trainers I know!

BellaGena Stable · #7 07-17-2006, 01:22 PM

I would recommend considering a partnership. I know that JJ Graci from "At the Races and Beyond" currently has a partnership in place that lasts till October 1st at Calder. This partnership is called Post Time Racing(posttimeracingpartnerships.com) and is a 4 month partnership. This partnership is a one time investment and gave you a share in the proceeds of 3 horses without any additional funding. This is a great way to get into the business and a great way to meet other potential investers that may want to team up and do their own thing. I would also read up on some of the websites that are very informative. Toba.org, thejockeyclub.com,

fmc123412 · #8 07-17-2006, 01:38 PM

Quote:

Originally Posted by BellaGena Stable

I would recommend considering a partnership. I know that JJ Graci from "At the Races and Beyond" currently has a partnership in place that lasts till October 1st at Calder. This partnership is called Post Time Racing(posttimeracingpartnerships.com) and is a 4 month partnership. This partnership is a one time investment and gave you a share in the proceeds of 3 horses without any additional funding. This is a great way to get into the business and a great way to meet other potential investers that may want to team up and do their own thing. I would also read up on some of the websites that are very informative. Toba.org, thejockeyclub.com,

My problem with partnerships is that i am not an US citizen. I am from Brazil...there are not structured partnerships here.

Thank you for the informative websites!

Cajungator26 · #9 07-17-2006, 03:42 PM

Quote:

Originally Posted by fmc123412

Man,

I am taking this as a hobby, too! I have a full time work and I will not left this job in order to own horses...I will just try to make things right, in order to do the best job I can...I am willing to start breeding in the future, also...but this will depende on my success as as owner.

I tried a partner once....and this person gave up, when we were about to buy a claimer....here in my country (Brazil), there only very few people interested in the horse industry, like me....but I think its a growing industry...mainly because of exports to the US and Europe.

Now I decided to go for an unraced colt/filly.....I also dont know too much trainers...and the 1 or 2 I know are broken to enter in a partnership with me...

I dont know....i am thinking seriously about....but its a very difficult decision.

Weren't you going to claim one soon?

Rupert Pupkin · #10 07-17-2006, 03:51 PM

This may sound like an arrogant response, but the truth of the matter is if you need to ask about how to get in the business, then you are not ready to get in the business. If you need to ask, it means that at this point you don't know enough about the business yet. I wouldn't invest until I was pretty much an expert on the business. When I bought my first horse, I knew so much about the business that I didn't need to ask someone how to get in the business. I knew exactly how to get in the business. I'd been going to the track every day for several years. I pretty much knew how every trainer out there operated. I knew who the butchers were and I knew who the ethical trainers were. I knew that there were a ton of people out there from trainers to partnerships that would rip me off in a second if I gave them the oppurtunity. I obviously would not give anyone the oppurtunity.
I wouldn't let someone pick a horse for me and I wouldn't let someone pick a trainer for me. I knew all the horses out there and I knew all the trainers out there, so I would pick the horse and I would pick the trainer. That way, I would be in charge and I would take full responsibility for the outcome. For me at the time, I thought the best way to get in the business was to claim a horse with a couple of friends. It's not easy to find a good horse to claim. Most of the claiming horses with the best records are the most unsound horses. The most dangerous horse to claim is usually the favorite, who usually has a great record. Many of these horses have tendons or suspensories and they could break down at any time. I'm obviously not going to claim a horse like that. I'm not going to claim a horse that may never run again. If the horse never runs again, I will lose my entire investment. If I'm looking for a claimer, I'm going to look for a horse who is reasonably sound who may have a couple of issues. It may be a horse who is being mishandled and I think my trainer could move the horse way up. I actually claimed a 35-1 shot once. I thought he was a much safer claim than any of the favorites because he looked relatively sound. He was one of the best claims I ever made.
Anyway, the point is that it is very difficult to make money in the horseracing business. If you really know what you're doing, I think it's a very good investment. If you're not an expert, it's very tough to make money. There are a lot of people out there who will try to take advantage of you. Everyon has a lame horse who they will try to unload on someone who is new to the business. Most of the partnerships out there are terrible investments. There may be a few good ones out there, but there aren't many. Most of them are either incompetent or crooked. It's usually one or the other and sometimes both.
What you are doing right now is smart. Ask questions and do a lot of research. You have to be careful who you listen to though. That's why it's important to get a lot of opinions. In the end, you need to do what makes the most sense to you. Ideally, by the time you do put up some money, you will know more than the people you were asking advice from.

fmc123412 · #11 07-17-2006, 04:24 PM

Quote:

Originally Posted by Cajungator26

Weren't you going to claim one soon?

Yes, you are right!

But the partner i had gave up because his wife decided they would better buy an apartment! :-)

So i decided to buy a horse in an auction...one that can, maybe, give me returns...not only expenses like a claimer...

Cajungator26 · #12 07-17-2006, 04:27 PM

Quote:

Originally Posted by fmc123412

Yes, you are right!

But the partner i had gave up because his wife decided they would better buy an apartment! :-)

So i decided to buy a horse in an auction...one that can, maybe, give me returns...not only expenses like a claimer...

Not all horses at auction are going to give you returns. You need to bring someone with you that knows horses... it's a huge guessing game a lot of times.

fmc123412 · #13 07-17-2006, 04:31 PM

Quote:

Originally Posted by Rupert Pupkin

This may sound like an arrogant response, but the truth of the matter is if you need to ask about how to get in the business, then you are not ready to get in the business. If you need to ask, it means that at this point you don't know enough about the business yet. I wouldn't invest until I was pretty much an expert on the business. When I bought my first horse, I knew so much about the business that I didn't need to ask someone how to get in the business. I knew exactly how to get in the business. I'd been going to the track every day for several years. I pretty much knew how every trainer out there operated. I knew who the butchers were and I knew who the ethical trainers were. I knew that there were a ton of people out there from trainers to partnerships that would rip me off in a second if I gave them the oppurtunity. I obviously would not give anyone the oppurtunity.
I wouldn't let someone pick a horse for me and I wouldn't let someone pick a trainer for me. I knew all the horses out there and I knew all the trainers out there, so I would pick the horse and I would pick the trainer. That way, I would be in charge and I would take full responsibility for the outcome. For me at the time, I thought the best way to get in the business was to claim a horse with a couple of friends. It's not easy to find a good horse to claim. Most of the claiming horses with the best records are the most unsound horses. The most dangerous horse to claim is usually the favorite, who usually has a great record. Many of these horses have tendons or suspensories and they could break down at any time. I'm obviously not going to claim a horse like that. I'm not going to claim a horse that may never run again. If the horse never runs again, I will lose my entire investment. If I'm looking for a claimer, I'm going to look for a horse who is reasonably sound who may have a couple of issues. It may be a horse who is being mishandled and I think my trainer could move the horse way up. I actually claimed a 35-1 shot once. I thought he was a much safer claim than any of the favorites because he looked relatively sound. He was one of the best claims I ever made.
Anyway, the point is that it is very difficult to make money in the horseracing business. If you really know what you're doing, I think it's a very good investment. If you're not an expert, it's very tough to make money. There are a lot of people out there who will try to take advantage of you. Everyon has a lame horse who they will try to unload on someone who is new to the business. Most of the partnerships out there are terrible investments. There may be a few good ones out there, but there aren't many. Most of them are either incompetent or crooked. It's usually one or the other and sometimes both.
What you are doing right now is smart. Ask questions and do a lot of research. You have to be careful who you listen to though. That's why it's important to get a lot of opinions. In the end, you need to do what makes the most sense to you. Ideally, by the time you do put up some money, you will know more than the people you were asking advice from.

Man,

That was an excellent advice!

I know something about the industry...I know a couple of trainers and something about selecting horses...but I think I may do a lot more researches in order to find the right trainer and the right horse.

I am talking with an agent too...but there are the risks of him indicating me a horse and a trainer....I think i will try another agents too....

I will deeply undertand the business and wait to buy the horse next year, i think.

Thank you!!