anyone ever own a race horse?
 

An older friend of mine owns a few horses and asked if I wanted to buy into one. So a few days ago, I bought in on a $6k horse, (I put 2k up) for 33% cut. Anyway he called me today and said someone offered 7500 for the horse and advised we sell it. I told him to go ahead and sell it, and I made a quick $500 (my 33% cut on 1500).

My question is, is this a common practice for horses to be sold so easy/quick like this? I literally had a cut of this horse for 2 - 3 days. With this kind of return, I want to get in on this with more capital.

Let me know any experiences. At this time, he is the only person I know in the business and I don't want to hear only his take on everything.

My brother-in-law manages the estate for a woman who is the heiress to the Dow Jones family fortune and she has a big horse breeding farm in Maryland.

It really takes a big investment and a long time to get to the point where you can make serious money from stud fees and catching an exceptional horse.

Most people I've known who got into race horse investing do it just for the prestige of saying they own a race horse. They usually don't turn out well as investments compared to other opportunities out there, unless you really know what you are doing, can afford a top trainer, and are lucky.

you can loose JUST as easily

KRL, it definitely takes a lot of money to get big in it. I really do think it is a prestige thing, I loved having a horse for the past 2 days, LOL.

I think I am gonna be humble about my profit and keep an ear open for other opportunities. $2k wont kill me at this type of return and at this pace.

Read and Learn.

http://www.timoninc.com/equerry/

http://www.timoninc.com/equerry/html/ftho/eq_ftho.htm

awesome link, thanx again

Welcome. One of the guys at her stables started that as an educational site for people looking to become horse enthusiasts. Got some good info.

cant be much for 6k
The cheapest i have is 46k
Dont get in horses of 6k unless you wanna eat it.

The 6k? Or the horse? :helpme

I've had a couple of horses, my sister is really into it so she
persuaded me to buy.
I've always liked horse gambling, so that was the main reason I bought them.

One did fairly good, but I didn't really make any money on it, more like break even.

The other was a 1 year old, it got injured at 3, so we had to put it down. Got my money back on the insurance for that one.

Buddy of mine owned horses for 20 years, figured he had lost a total of about $400,000 during that time (winnings-expenses = 20K loss a year).

he was glad to do at only loosing 20K a year.

Then with one mare he made around $500,000 in 2 years, wiping out 20 years of losses.

After that he went right back to loosing.:1orglaugh

what a rollercoaster ride into the shitter