I have been building up an interest to buy a race horse. I fully understand that it is costly and difficult to buy and maintain one with cost from vet, trainer, stables, jockey, food, etc.. however, I have set aside a budget of 200k to buy and train a thoroughbred foal. How long would this amount last me? and when would need to start injecting some more cash?
mr.longshot
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That's a nice round figure to get in the race business.. Remember as an owner you are in this to make money. If this is your first shot at it may I suggest.. Trainers always have an eye on horses which are good investments. Also (hopefully) others whom want to buy into the business. (Possible partnership) Get your feet wet owning an active racing horse. Early '80s it was around $1400.00 a month to keep a horse in training at the track, plus all the other stuff. This way you will see the results right away. Buying a foal and waiting watching investing and gambling on a winner years away is a tuff way to start. (My opinion of course)
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That is a nice chunk of change, but maybe the best play is initially in the claiming game, so you will have a bona-fide racer in your barn. To buy a yearling is a major roll of the dice and you could be throwing money at a runner who will never see the races.
You will initially need to be licensed by the state in a variety of means to get into this game and your next step is to talk with a trainer and owner(s) at an area track to get a feel for what maintenance costs are...and then set a plan on whether you want to get in with a yearling, two-year-old in training (buy privately or at auction), or initially get in at the claiming level.
There are many nuances in the sport, but you are smart to build a bankroll before diving into things.