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If you are a fan of thoroughbred horseracing, you may spend a lot of time at the track and you may have imagined owning a racehorse. You might have imagined standing in the winner?s circle with winnings to take home. But in your dreaming, have you really thought about what would be required of you if you owned a racehorse? Before investing in a thoroughbred, the best idea is to study the way the industry works and to learn about the different variables that go into thoroughbred horseracing. There are so many things that go on behind the scenes and so many variables to consider prior to purchasing a racehorse. Before you take that giant leap, ask yourself these basic questions. * Do you have enough stability financially to be able to buy a thoroughbred racehorse as well as to continue to pay its monthly expenses for the horse?s stabling and training? * Can you invest your money knowing that it may be some time before you see any return if you see one at all? * Do know how much the racehorse will cost each month and what those expenses are for? * How much time do you realistically have to devote to your thoroughbred ownership? * How active do you want to be in the decision making process? * What types of races and at what level do you plan to compete? * Are you comfortable with taking on all of the investment risks and paying all of the expenses for your race horse or do you want to join in with a horseracing partnership or syndicate? * Are you familiar with horseracing partnerships or syndicates and what all they involve? * Do you believe you are prepared for the liability and the tax burdens of being a licensed racehorse owner? If these questions cause you to feel nervous, you might want to think again about your decision until you have more confidence in yourself as an investor. You may want to talk to someone with knowledge of the areas such as someone from the Thoroughbred Owners and Breeders Association, an investment adviser, an account or attorney, or anyone owns a thoroughbred. Any of these people will be able to give you advice and help you make the right decision. Although thoroughbred horseracing is an exhilarating sport, as with anything there are highs and lows. Its one thing to sit on the sidelines and watch the race but its quite another to actually join in as an owner or partner.
By: C. Anne Baker
Thoroughbred horseracing has been a large component of Anne Baker's life for thirty years. She has bred and raced horses in North America and the UK. Her practical guide about Buying Into A horseracing componentnership is available free for just a limited time from componentners In Thoroughbreds.
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