HORSEPLOP.COM
General Category => Harness Racing => Topic started by: Joeb1612 on May 08, 2019, 03:04:19 AM
-
Questions for knowledgeable Horse owners.
Got into the Horse business about a year 1.5 years ago owned about 4 or 5 horses last yr and made a few $ for the year.
This year bought a Claiming horse for $9600 ( also he picked the horse out of a claiming race for me) and trainer made roughly $38,000 total we split 60/40 per lease deal.
Horse got claimed for $18,000 so I made a profit of $8400! Question is what percentage of the profit should I give trainer for a bonus? I was thinking like 20 -25% of profit is that fair market value? I don't know and am asking you as I'm new to this, I have bought other horses and sold them at a loss or broke even on a few.
In the mean time I plan to reinvest the whole $18,000 with the same trainer to buy another Horse or to any info would be helpful!
-
$1500 or increased % next one.
-
Ask Ron Gurfine ngc3
-
I've seen trainers charge a 10% fee (when claimed).......on the increased value, when they improved the value of the horse. ( Claimed at 7000...lost at 10,000......$ 3000 gain......$ 300 to trainer)
But if you re-invested all the money you got from the claim back into a new horse....I would not pay anything if he/she was your partner on the horse.......and buys back in with you.
Another consideration.... ......how about the 2 horses you bought/claimed at ..say $ 10,000 that were dropped in class....and eventually claimed or sold at less than $ 10,000
Did the trainer kick you back 10% of what you lost on your investment ? That never happens.
Another one that comes to mind..You own the horse outright....Train er says that you should stake this horse in several events "I think they will make money in these races"................A n owner I knew said "OK with me..and since you also drive , besides training....I will pay 90% of the staking fee..you pay 10% ????
You know what the trainer answered ...don't you
-
Why would you think a bonus is due? You and the trainer made your contract at 60%-40%. And, for both of you it worked out well. End of story. Has the trainer offered you a bonus for taking on the finacial risk? If you felt so strong about a performance bonus, it needed to be done at the time you contracted for the 60%-40% deal.
If you reinvested the money with the same trainer, that would be real jesture of your confidence and appreciation. But, this short term bonus stuff is not condusive of building lasting relationship.
-
Why would you think a bonus is due? You and the trainer made your contract at 60%-40%. And, for both of you it worked out well. End of story. Has the trainer offered you a bonus for taking on the finacial risk? If you felt so strong about a performance bonus, it needed to be done at the time you contracted for the 60%-40% deal.
If you reinvested the money with the same trainer, that would be real jesture of your confidence and appreciation. But, this short term bonus stuff is not condusive of building lasting relationship.
agree
-
I agree....should be in any original agreement at the time the horse is put in the care of the trainer.
You are taking the risk..not the trainer
-
Agree tmbz1
-
you sound like a decent guy dont listen to these guys throw the trainer a bone and dont forget about the groom 20 bucks on race night means a lot final bit of advice stay out of yearling game its a death trap
-
Take care of the groom, the trainer got his!
-
Take care of the groom, the trainer got his!
Best outcome for all right here. tmbz1
-
Your TIP is takeing the money and investing it in another horse with same trainer. End of story.
-
don’t give him a quarter. They don’t appreciate it and they all screw you in the end. I have owned horses nearly 30 years, and have come to the conclusion they are all the same....nice to your face while trying to figure out how to beat you out of every penny they can.
-
I was somewhat lucky............ ...
12 different trainers over 40 years
6 were fair..despite my kindness and help I gave them
The other 6 screwed me....every chance they got..............
Only 2 are still living.......hope they get theirs !