I have been an owner in IL, KY, IN for about 15 years. Not sure what it costs in NJ,but figure on a total of $2000-$2500 per month per horse for boarding and vet. Vanning, shoes, health supplements, etc. are extras. I had as many as 10 horses at once time, so you need t win. It's a business, not a hobby, and if you approach it as a business, you will be much better off while managing your stock.
It is not a business for the faint of heart. If your hand shakes when you write out the check each month, get out.
We made money most years, but, overall in 15 years, pretty much break-even to 10% above average. It depends on the horses in any particular year. For 5-6 years, we were running ALW and stakes horses, which made us money. Some got hurt and retired, others just didn't perform. Going to low level racers and claimers is a bit of a crap soot, and those years when we didn't have great runners, we simply kept our heads above water.
In any event, if you are buying in, take it for what it is worth. Set objectives, as you would in any business. Is it to win? Is it to have fun? Is it to win and have fun? Also, be prepared to have a budget on what you want to spend, which is code for "be prepared to pay the bills, if you don't win." GOOD LUCK!
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