What does Real Estate and Kentucky Derby Winner Have in Common?

What does the current Kentucky Derby winner California Chrome and real estate have in common?  Check out the story of this "cheap horse" and unlikely owners and trainer just won over $1.4 Million Dollars in the most prestigious horse race in the world, bringing the horse's total career earnings thus far to over $2.2 Million.

The owners, Steve Coburn and Perry Martin, purchased an $8,000 filly (Love the Chase) with the intentions of using her as a brood mare to cross with a stallion (Lucky Pulpit) with only a $2500 stud fee.  The filly was slow herself, only winning one race in her career.  The stallion was 10 years old, and didn't have much of a career either.  While a $10,000 investment may sound like a lot of money, it is pennies in the horse racing industry.  Many, many yearlings are sold for in excess of $100,000, some over a million,  at the Keeneland Thoroughbred sale every year.  To me, in real estate, this equates to thinking outside the box.  "Nobody does it this way", or, "that's never been done" were similar phrases to what these small time race horse owners heard, as do real estate agents all the time.

The owners, created a partnership to establish their business venture together.  When people learned what their goals were with this filly, to make a Derby winner, they were actually called "dumb asses."  So, they named their partnership "DAP" Dumb Ass Partners.  It get's better.  Did you see the jockey's silks on Saturday?  Their logo is a donkey. These owners are blue collar folks, and they don't hide it.  To me, in real estate, this says to be real, don't be something you are not, and stick to what you know.  

 

California Chrome's trainer, 77 year old Art Sherman, now holds record to be the oldest trainer to win the Kentucky Derby.  What's more amazing, is that at the ripe age of 18, he actually traveled from California to the Kentucky Derby as an exercise rider for the horse Swaps, who also won the Derby.  To me, in real estate, you are never too old to learn, or to keep dreaming.  Just because you no longer qualify to be featured in the 30 Under 30, doesn't mean you can't have a successful career.  

Recently, the owners turned down an offer of $6 Million to buy 51% ownership in California Chrome.  I'm not sure how that one relates to real estate at all.

 

Owner Coburn and Martin are looking forward to the Triple Crown, where the winner of the Kentucky Derby must win the Preakness and Belmont as well.  This rare accomplishment has not been attained since 1978.  They believe in California Chrome.  To me, in real estate, this says to dream big.  Just because you werent' born with a silver spoon in your mouth, or have a million dollar budget doesn't mean you can't succeed.

 

 

 

 

 

 

Catherine Ulrey, Broker in Oregon

Equestrian Real Estate Specialist

 

Keller Williams Realty Portland Premiere

503-999-4497 Direct

Horse Property for Sale in Oregon

info@homeswithhorsesense.com 

Serving Salem Since 1997