Dream becomming reality--NY partnerships advice!

Toccet02

We are selling our childhood apartment, and got a better price offer than we thought. My husband and I are being extremely conservative with the proceeds, locking it away for our girls, but HE mentioned (I was going to be selfless and not bring it up) that now we can actually get a share of a horse. Needless to say this makes me extremely happy. Now, West Point is/was? my favorite partnership if money was no object, but it still is, and they're a little high end. Plus national. I'd like to invest in a NY horse so I can visit and watch races in person. Plus have a little say in what happens to said horse. I'm doing research as we speak, but thought I'd ask you all as well. Anything negative or confidential, say it to me privately please so we don't start a war. Only thing I know for sure right now is I'd pass on Karakorum. Stats are not impressive to me and I haven't liked any of their horses I have seen racing or on the website. On the other hand, Parting Glass looks pretty good.
Thanks for any honest advice.
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cewright · Posted: Wed Nov 23, 2011 10:31 am Post subject: Advice

Remember the cost of owning a horse, or a piece of a horse, involves both the initial investment and the subsequent upkeep. Even if the horse cannot run a lick it still eats, needs a stall, training, vet farrier, etc. Be sure your monthly budget can support the ongoing expenses before you commit.

To put you in the proper frame of mind for investing in race horses you should write on the bottom of each check "I never expect to see this money again!"

Good luck!

Chuck

Toccet02 · Posted: Wed Nov 23, 2011 4:08 pm Post subject:

yes, great advice, and that does call to mind that West Point had an agreement when I spoke with them in '05 that the horse was YOURS for as long as WP had it (alive / unclaimed). I think not all partnerships do this; some may allow you to buy out of an agreement. What I was mainly looking for was opinions on which smaller partnerships are good for a first-timer. Although not a naive first timer. Cool

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BargainBlueblood · Starters Handicap Joined: 16 Sep 2004 Posts: 544

Castle Village Farm has pretty good numbers for a small-scale partnership group, and they run primarily in NY.
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dkras · Yearling Joined: 14 Aug 2010 Posts: 70

I think Fantasy Lane Stable is tops! Daily email communication (more details than one could imagine), and a friendly, open, welcoming partners and trainers! Honesty, integrity, communication!!

winds · Posted: Sat Nov 26, 2011 6:38 pm Post subject:

Check out Crown Racing LLC. From what I understand there are no costs after the initial investment and they do have NY breds. Check them out.

winds
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ageecee · Posted: Sun Nov 27, 2011 6:55 pm Post subject:

Do not and i repeat do not join Renpher Stable.

Tappiano · Grade III Winner Joined: 20 Jan 2007 Posts: 1095

I think that most of them do not give you any say in the day to day management of the horse up to and including what happens to it when it's done running or even what race it runs in.

I would suggest (and I do not know you would not do this so just throwing this out there) that you read the fine print. i have friends involved in all sorts of levels and most of them are in it just to get a day at the races and to go to the barns on the backstretch.

Perhaps find a few people and form an LLC and then go claim or buy a two year old in training ? At least then you'd be guaranteed a say ?

DEACON · Weanling Joined: 26 Sep 2007 Posts: 48 Location: LOUISIANA

I had a very good first time partnership experience with the guys in Jamestown. Talk to John and he will treat you right. I was in on (6) or so partnerships with them. We had a $7500.00 claimer that grossed about $90,000.00. mudcreek Racing LLC in Jamestown,Ky

Toccet02 · Posted: Thu Dec 22, 2011 4:05 pm Post subject:

Did one of you guys get me a present? Wink

I received the official TOBA owner's manual from a "D.A.M." in South Hampton NY.
Besides this board only my hubby and one friend know I am seriously going to do this.
_________________
All shouting does is make you lose your voice.
----Arrested Development

wgc517 · Posted: Thu Dec 22, 2011 6:15 pm Post subject:

Have you considered putting your own partnership together? It is not as hard as you might think and it really gets you involved. If you do it right you can give yourself just as good a chance as all the others and you get to make the decisions with your friends. You will get much more for your money that way. There are a lot of very knowledgeable people on the board that can help guide you. You will need some good advisors, but you can do. Just a thought.
If you do go with a pre-established partnership, make sure there are no more than a handful of people in it otherwise you won't get the attention you deserve especially for the money you will put in. Before you sign with anyone, post the deal to this forum and get feedback. As stated above, expect to lose all your money but make sure you limit the risk you can control.... good luck, you will be hooked.

ageecee · Posted: Fri Dec 23, 2011 5:40 pm Post subject:

[quote="Toccet02"]Did one of you guys get me a present? Wink

I received the official TOBA owner's manual from a "D.A.M." in South Hampton NY.
Besides this board only my hubby and one friend know I am seriously going to do this.[/quote]

Do not ever go with a partnership called Renpher Stable..

Diane · Moderator Joined: 16 Sep 2004 Posts: 797 Location: SoCal

Here's a novel approach? What track(s) do you want to be visiting to watch your horse race or work? That question narrows down your trainer. Out of that list of trainers which one consistently has horses that stay sound enough to race 2 seasons? Out of that list you now are down to a handfull? I'd draft a serious letter stating you'd like to get into a small, semi private partnership and would they please keep you in mind if any of their current clients are looking for partner(s). You might be waiting awhile but when you start throwing that money away it's going to go fast Wink

Des · Allowance Winner Joined: 27 Sep 2004 Posts: 433

You had also mentioned that you wanted to have a say in the partnership....Well I do not think most or all of these partnership will let you have a say. You are mostly considered a silent Partner... You can form your own partnership if you have friends that are interested AND KNOW THE RISK THAT THEY ARE GETTING INTO.... Put together 4 or 5 individuals and proceed.. BUT REMEBER AS ON POSTER HAD MENTIONED ,,,HORSES DO NOT TAKE VACATION UNLESS IT"S A PAID ON......Bills Bills Bills... But it can also be successful

ageecee · Posted: Mon Jan 02, 2012 7:01 pm Post subject:

Did you join a partnership yet? Hope it isnt Renpher Stable i think they are 8/135 in 2011.