How Do You Buy a Race Horse?

[QUOTE=Arcadien;4157529]
Sounds like you would enjoy “Backyard Racehorse” book & online group to me - the book has had multiple editions, and the author, Janet DelCastillo, is doing live updates of her latest efforts with two horses on Facebook and/or Twitter…[/QUOTE]

Janet is winning at a awesome 0.019% since 1990. She definetely sounds like someone you’d want to buy a book and learn from. :no:

[QUOTE=Dahoss;4158095]
Janet is winning at a awesome 0.019% since 1990. She definetely sounds like someone you’d want to buy a book and learn from. :no:[/QUOTE]

Point taken on her stats, but lets not forget, how many small owners actually make any money racing horses?

Especially if they are paying an average day rate. I think you have to realize, there are some people (very small percentage of course) in this game knowing they are going to spend money, not make it. They were spending it anyway on owning a few horses, maybe have their own farms and are even good enough riders to get a horse to the work & go, gate card point.

Up to then they spend no more than they would on your average show hunter. Why shouldn’t they be allowed instead to spend that money as owner/trainer of a racehorse?

The only disadvantage I see is these owners aren’t providing any full time trainers with day rate income.

OP, check out Janet’s list, and you’ll find a small loyal group, mostly just having fun preparing their own “race horses”, but occasionally winning the owner trainer way!

Just another point of view,
Respectfully,
Arcadien

I very much understand that and as a small owner, I have to take every edge to maximize the success that I do have. That means hiring professionals that not only know how to train but how to recognize small problems before they become big problems, how to spot their horses and how to read a condition book. Everyone has slumps and bad luck but I’m not sure how a small owner can survive in a barn that can’t win somewhere in the double digits over time.

The successful owner trainers I know or know about are either small guys who are “all in” or bigger operations where typically the trainer takes a piece of a horse with long time partners. Bruce Headley and Jerry Hollendorfer are in the latter category. The small guys often live in a tack room and have 4 or 5 head who make it happen for them. That’s a life that has certain rewards but not for everyone. Talk about living by your wits…

I’ve never read that book but I question the premise as to how anyone could do a good job in the “backyard” unless their backyard is Calumet. Racing is a sport that requires a high degree of fitness and a very specialized set of skills for both human and horse. On the human end, those skills can take a long time to acquire and coming from a pethorse/showhorse perspective, I was stunned at how much more work and time quality racing operations devote to their horses than some of their counterparts in the show world. Every inch of every horse gets gone over every day–and that’s your competition. In my experience, gyp trainers love to talk about the “juice” some other barn is using but the truth is that some barns are just better than other barns and horses move up because they get better care and are managed by smarter, savvier people. An amateur owner trainer is very much competing against pros and even at the smaller tracks (and maybe especially at the smaller tracks) these guys don’t leave money on the table.

Obviously I am not trying to kill someone’s dream but being an owner trainer is not an easy lifestyle.

[QUOTE=Pronzini;4159581]
I very much understand that and as a small owner, I have to take every edge to maximize the success that I do have. That means hiring professionals Obviously I am not trying to kill someone’s dream but being an owner trainer is not an easy lifestyle.[/QUOTE]

You made a lot of very valid points that resonate with me, personally. That said,

I think the point being missed (possibly, not saying by you specifically) is that owing/training racehorses is not necessarily a “lifestyle” for some of us. It’s still a “hobby” if you will, same as owning/training a show horse (which, in some situations, mind, can get as costly as - or more costly than (LOL!) - owning/training a racehorse)

So why shut those people out? I mean, if you have a much better way of playing the racing game, these people are just more entries to fill a race & beat, right?

Just piping up (again, please forgive me, uninterested regulars <grin>) as I don’t see why the small (okay unrealistic) dreamer owner/trainer is any threat to your success - actually, seems to me they could a benefit, helping to fill races, so…??? the objection?

(other than the rather unpalatable one I sort of suggested - that these people might otherwise be paying racehorse trainers day rates… )

Respectfully,
Arcadien

in the sun

All of us who trained racehorses in Fla. at the time of Janet were amazed at her writing a book…or why. I felt bad for the horses.
Finding yourself a good trainer who is training a successful stable at the racetrack, has a long history of consistent success is a big plus. There are “flash in the pan” trainers who get a good run of luck, but do not have long term experience. My advice is to choose a trainer who has years of training success.

Imissvixen, sorry to come late to the discussion. I remember the Miss Abby Kat thread and am thrilled that you’re interested in pursuing racehorse ownership.

From what you’ve said, I suggest either claiming or privately purchasing a horse in training. That way, you’ll have immediate enjoyment - you’ll have a fit horse that is ready to run and is a known quantity talent-wise. You could also buy a young horse and bring it along, but you will wind up investing considerable time and money in a horse that may or may not even make it to the races - due to injury and/or lack of talent. And, I suspect the partnership route may not be hands-on enough for you.

There are some drawbacks to claiming - one being that you could claim a horse with serious issues and the other being that if it’s a good horse and you run it where it belongs, it may be claimed away from you. But, any horse can get hurt and if a horse is claimed you can always claim him back or buy him back.

If you want to claim, find a trainer at the track where you want to run who claims a decent number of horses and, ideally, is stabled at the track. You want someone who knows the horses and the various barns. Talk to a few trainers and be upfront about what you expect and choose the trainer that you feel you have the best potential to have a good working relationship with. Stats and trainer standings are one thing, but you want to have a good experience and have fun - find the person with whom you can do that. You would think a big barn would be less personal, but it really depends on the individual who runs the barn - what you probably want more than anything is a trainer who will be appreciative of a one-horse newbie owner (and you’ll be able to tell that fairly quickly).

How hands-on can you be? Again, it depends on the stable. You can expect to be able to be kept in the loop as far as your horse’s wellbeing and training is concerned. Weekly updates from your trainer is standard. You should be able to visit as often as you like to watch training, play with your horse and - depending on your horse, your skill level and the stable - maybe groom, hotwalk, hand graze, etc. your horse. If you stay out of the way and don’t interfere with training and barn chores, you should be welcomed.

One phrase you hear a lot at the track is “there is nothing more dangerous than an owner with a condition book.” In other words, let the trainer do his/her job and pick the races. You do, as an owner, have final say in what race in which to run your horse, but it’s best to leave those decisions to the trainer.

What you should not expect to be able to do is dictate how your horse is conditioned and/or cared for on a daily baisis. If a significant issue comes up, of course you can talk to the trainer, but as far as the little nitpicky things that you see people complain about at riding horse stables - forget about it.

Owner/trainers come in all shapes and sizes and the idea that they are all small-timers struggling along is absurd. But, I don’t suggest trying to train your own when you have no experience - you’d be facing a serious uphill battle.

The Backyard Racehorse group might be a good idea to gain some exposure to the world of racing, but the Backyard philosophy is more about not using medication than about how to train on a small scale. Factor in what Dahoss and Florida Fan say before taking those philosphies to your trainer and asking them to implement any of those methods. :wink:

If I were you, I would contact some claiming trainers at the track where I wanted to race and tell them I wanted a horse to have some fun with and go from there.

One phrase you hear a lot at the track is “there is nothing more dangerous than an owner with a condition book.” In other words, let the trainer do his/her job and pick the races. You do, as an owner, have final say in what race in which to run your horse, but it’s best to leave those decisions to the trainer.

The whole condition book/entry aspect of racing was a real eye opener for me when I became an owner. It’s just not as easy as it looked from the fan perspective. :lol::lol:

Hubby often hands me the condition books and tells me to circle the races I think ours should aim for. I’m sad to say after all these years I still end up picking out filly races for our geldings, or missing a condition we don’t meet and so on and so forth. I did catch him the other day when the new book came out and he was going through a day and picked out a fillies and mares for our stallion :smiley:

As for the original question, can I pose a counter question? How do you stop?!? We just bought another lol

I agree with Sleepy Fox. I have 2 horses with our trainer right now. She has 38 horses in training - so it is a fairly good size stable. Our trainer is Excellent. The two trainers before her were very mediocre and I felt I could have done a better job. Now with this trainer, I am years away from getting to her level. Our grooms are Excellent. They answer questions and help me learn, but really, I could never do it as good as they are. It is a very nice feeling.

I love the hotwalking and they are happy to let me do that. I go out to the track at lunch to graze them. Then when the race is over, they let me help out by hotwalking and telling the horses how great they were. If we are lucky enough to go to the test barn, I get to do that part as well. So far it is enough to keep me quite happy.

There is nothing like the backside at 5:30 AM - WAY more satisfying and fascinating then the races - But - we need the races to try to afford the day rate!

I am not sure how long we will stay with racing. I have not given up on hoping to show H/J again - just working on getting one of these OTTBs ready for it.

Pat Ness

[QUOTE=Pat Ness;4161901]

There is nothing like the backside at 5:30 AM - WAY more satisfying and fascinating then the races - But - we need the races to try to afford the day rate!

I am not sure how long we will stay with racing. I have not given up on hoping to show H/J again - just working on getting one of these OTTBs ready for it.

Pat Ness[/QUOTE]

Pretty much had given up as it’s clear no one is actually reading my posts, but have to come back for racing’s sake. Track by track closes, and it’s heart breaking, and I fight it as hard as I can, and I for one think owner/trainer’s might be one last levee to keep TB racing here, but I guess I’m pretty alone here in that.

At any rate,

Yup, know all about the backside at 5:30 am. Been there, worked there.

No “owner/trainer” I know of, personally, doesn’t/hasn’t.

If you are racing to “afford the day rate” why bother? Just pick up an OTTB & start H/J ing, plenty of nice ones going for nothing right now. Costs about as much to own/train an H/J horse, with no or little prospect of winning anything. Still seems to make some (okay a lot of) people happy. Why shut them out of racing?

The “owner/trainer” types may be the only ones around racing TB’s in 3-4 decades if the current trend (and attitudes) keep up.

Heavy sigh.