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Buying a horse

Forum: Horse Racing
Author: [Horse Racing] Topic: Buying a horse
Fcris12 PM Fcris12
Joined: Dec 2014
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Fcris12
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Posted: 12/23/2017 10:40:06 AM
good morning guys , I'm sure this topic has been covered before but I currently live in NJ and I was shooting the idea of buying a race horse.  I was wondering if anyone here can help tell me how much a race horse usually cost, how many partners they had when buying , monthly costs and the overall experience they had.  Any help would be appreciated guys 
mikeyp1 PM mikeyp1
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Posted: 12/23/2017 9:29:01 PM
QUOTE

Originally Posted by Fcris12:

good morning guys , I'm sure this topic has been covered before but I currently live in NJ and I was shooting the idea of buying a race horse.  I was wondering if anyone here can help tell me how much a race horse usually cost, how many partners they had when buying , monthly costs and the overall experience they had.  Any help would be appreciated guys

I have been an owner in IL, KY, IN for about 15 years. Not sure what it costs in NJ,but figure on a total of $2000-$2500 per month per horse for boarding and vet. Vanning, shoes, health supplements, etc. are extras. I had as many as 10 horses at once time, so you need t win. It's a business, not a hobby, and if you approach it as a business, you will be much better off while managing your stock.

It is not a business for the faint of heart. If your hand shakes when you write out the check each month, get out.

Fcris12 PM Fcris12
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Posted: 12/26/2017 10:55:14 PM

Thanks for the reply.  Has it been a lucrative business for you?

mikeyp1 PM mikeyp1
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Posted: 12/27/2017 8:27:39 AM
QUOTE

Originally Posted by Fcris12:

Thanks for the reply.  Has it been a lucrative business for you?

 

We made money most years, but, overall in 15 years, pretty much break-even to 10% above average. It depends on the horses in any particular year. For 5-6 years, we were running ALW and stakes horses, which made us money. Some got hurt and retired, others just didn't perform. Going to low level racers and claimers is a bit of a crap soot, and those years when we didn't have great runners, we simply kept our heads above water. 

In any event, if you are buying in, take it for what it is worth. Set objectives, as you would in any business. Is it to win? Is it to have fun? Is it to win and have fun? Also, be prepared to have a budget on what you want to spend, which is code for "be prepared to pay the bills, if you don't win." GOOD LUCK!

Forum: Horse Racing
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