Monday, July 13, 2009

Hi Everybody

Okay first the update, Heartland Lacey finished dead last in her race thanks to an unambitious driver

Now to the question about expense

There is 2 answers to this yes and no

No Heartland Lacey is racing and she is winning enough that she is paying her own way she has cost me nothing except for the initial outlay of $ 375.00 for a 1/4 interest, in fact if I ever get an accounting it may well prove that she owes me money.

Yes, the other two yearlings I own are not racing and they are costing $600.00 each a month to train and board. However since I only own a 1/3 interest in each horse it is only costing me $400.00 plus sundries a month. The problem is that they are months away from paying back the costs involved...... if they ever do

Part of the point of being in a partnership or syndicate in owning horses is to spread the risks and costs out. If I owned just one horse I would be responsible for all the costs and risks associated with the ownership of that horse. so I could conceivably be out thousands of dollars with out the possibility of return if the horse broke down. Since I only own parts of three horses any one of them could break a leg and I would only be out my part of the investment instead of the whole thing

That concludes this lesson in horse ownership 101 any other questions feel free to ask

1 Comments:

Blogger Christine said...

Interesting. So are these animals you pets? Do you visit or are they merely an investment?

Sorry she came in last. I am sure she tried her best. :-)

10:58 AM  

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