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Partnerships, Presented by Taylor Made Partnerships: Rocket Wrench Racing

From bustling cities to quiet rural towns, the potential for achievement and success knows no geographical boundaries. The same goes for Thoroughbred racing partnerships. Successful partnerships are not always born on major circuits like Kentucky, New York, or California. Sometimes they are born in a barn just south of a rural town in Minnesota called Elko New Market.

For Rocket Wrench Racing's managing partner Justin Revak, what started out as a dream one summer while stomping divots on Canterbury Park's turf course has developed into a partnership group on a meteoric rise. From a daydreaming teenager to top-10 owner at his home track, this story proves all you need is for the planets to align and a rocket to get you there.

“It really has been an extraordinary adventure that began over a decade ago when I came across a Craigslist ad offering one percent of a Minnesota-bred 2-year-old colt for $300,” Revak began. “Loving horse racing since I was a kid, I decided to pick up the phone and call the number on the ad. Hell, it was only $300.” The horse's name was Rocket Wrench, an unimpressive dark bay with donkey-like ears and a blaze on his face resembling an open-faced wrench.

The trajectory of the new venture started out with a series of not-so-impressive races, thus the general partner was ready to give up on the horse after the second year. “I still had faith in Rocket, as we called him around the barn, so I agreed to buy him. The next day I brought him to my farm for the winter,” recalled Revak. At the start of Rocket's third season, Justin took to Craigslist himself and looked for nine partners asking $1,000 each. The ad, to his surprise, took. Revak was now the general partner of Rocket Wrench Racing.

Rocket Wrench partner Shawn Valek recalls the day the stars aligned for him. “I was looking for a lawn mower about 12 years ago on Craigslist. I clearly got sidetracked and found an ad for a partnership in a racehorse. The price was $1,000 for a 10% share. I quickly called my friend Joe McBroom and said I had two questions for him. First, I asked him if he would like to go in on this horse. He said, “Yes but what is your other question?” The second question was, “Can you tell my wife you found the ad on Craigslist?” McBroom granted the request, and the first group of partners were on their way.

Justin Revak and Rocket Wrench | Courtesy Justin Revak

McBroom has never regretted that day either. “When your horse is at the top of the stretch, it's absolutely thrilling to me and, the fact that we have a group of friends involved makes it a decidedly social endeavor.”

Revak sent Rocket to Canterbury Hall of Fame trainer Bernell Rhone to see if he could work his magic. On June 30th, 2012, Rocket Wrench Racing officially became a winning partnership as Rocket Wrench pulled away from the field by four lengths and crossed the finish line first.

Since that first win in 2012, Rocket Wrench Racing has amassed over $1,000,000 in earnings, boasts a 28% win percentage, and an in-the-money rate of 64%. “We have always been an aggressive claiming partnership. If a horse we have in the barn can't win or at least hit the board, we will drop him to where they belong,” explains Revak.

The team of trainers still includes Rhone but is now led by Karl Broberg and Tony Rengstorf. “We currently race in multiple states and all our trainers have impressive teams that do the day-in and day-out work that is ultimately responsible for our success,” said Revak. “Karl has taught me so much about finding good claims and we've become a really strong team. If both of us like the same horse, there's a pretty good chance it is going to do well for us.”

Partner Bret Woodson recalls, “I was in a previous partnership with some friends when I lived in Kansas City. It was a decent-sized group that claimed horses mostly in Louisiana. At the time, we were always going up against, and usually getting beat by, trainer Karl Broberg. Now I am a partner in Rocket Wrench Racing with Karl as our trainer. If you can't beat 'em, join 'em, right?”

Plenty of other racing enthusiasts have joined Rocket Wrench Racing in recent years including Lisa Migletz. “After my parents passed away, I wanted to honor them and our tradition of going to races by doing something special,” she said. “After doing some research, I was eventually led to Justin Revak and Rocket Wrench, and I became a partner. It was one of the greatest and most exciting things to ever happen to me.”

Rocket Wrench Racing has zero markups on any of their claiming partnerships and has gone from one group to seven in the last decade and now have 37 different owners. “We have had Canterbury-only groups, groups with higher investment levels, and groups with specific circuits in mind,” said Revak.

“We are currently offering our first Hoosier group to race at Horseshoe Indianapolis in 2024, which is exciting.” Each partnership group has $300 per month set aside to pay for all necessary legal and accounting services. The minimum investment level for a group starts at $2,500 and partners can own anywhere from five percent to 25 percent.

“I work to retain enough capital for each group so that we have few, if any, cash calls while the group is still active,” remarked Revak. “I am proud to say that we haven't had a single cash call since the first group was formed. That is not to say we haven't had swings in the total value from year to year, but overall, I work hard to manage our cash and horses, so I don't have to send out invoices.”

Partner Ida Schneck was drawn to the business model. “What I liked about Rocket Wrench Racing was that it was affordable and had a solid business plan so the risk of having to pay additional fees beyond my initial investment was minimal. Plus, I could own 5% and get an owner's license.”

Rocket Wrench Racing will be moving into the yearling market with Marcus and Crystal Ryan from Mason Springs Farm this year, due to a number of current partners looking for something new to experience.

“I am fortunate to be able to be a part of the main group of owners who have a piece of all the diverse groups within Rocket Wrench,” said partner Woodson. “My wife and I have three adult kids and they are all interested in and supportive of the Rocket Wrench partnership. Our four-year-old grandson has already been in the paddock and the winner's circle on numerous occasions, and we are hoping for many more as the years progress.”

Chris McCarron, Angel Cordero, and Justin Revak | Courtesy Justin Revak

Revak not only has learned that partnerships are the best vehicle to introducing new owners to the industry, but also that new owners expect more from the industry as it relates to racehorse aftercare and supporting the people who live and work in the stable areas.

Nebraska native 29-year-old Derek Drews is one of those partners. “I love being able to take family and friends to the barns to feed the horses,” he said. “Watching horses train in the morning is something special to see. Justin has always been great about getting myself and my family involved with the entire experience of ownership. Rocket Wrench participates and supports many of the charitable organizations, such as the Leg Up Fund down at the track. Yes, our ownership group is managed as a business, but we believe in much more than just winning races.”

Revak and several Rocket Wrench Racing partners unintentionally started a campaign in 2021 to buy air conditioner units for the dorms at Canterbury Park. “It was a sweltering summer, especially for Minnesota, and I went out and bought a couple of air conditioners at Home Depot for our groom's dorm rooms. Before I knew it, the HBPA, and the Minnesota Thoroughbred Association (Minnesota's breeding organization) and our partners chipped in even more money. Home Depot gave me a discount to help and away we went,” recalled Revak.

The giving did not stop there. Rocket Wrench Racing is a generous supporter of Jockeys and Jeans, the Leg Up Fund, and an exciting new organization that operates at Canterbury Park called Abijah's on the Backside. Sally Mixon, the founder of Abijah's, summarized the program. “Abijah's is the bridge between the racing industry and community wellness, pairing off-track Thoroughbreds with counselling professionals who are trained in a mental health experiential framework called ARCH. Justin and Rocket Wrench Racing have been big supporters of the work we do not only with horses and horse people, but also local first responders who participate in the program.”

The Rocket Wrench Racing story has now come full circle as the very first horse to launch this partnership, Rocket himself, is now one of the horses providing care for the clients of Abijah's. “It's cool being able to see Rocket work with people who need help, plus I get to see him most of the summer,” said Revak. “It is fun to look back at winner's circle photos on my wall from 2012 when my kids were eight and six and Rocket won his first race for us, until now when they are all grown up. My family and these horses are so important to me. The whole thing is wild. This horse, and this partnership has brought so much to so many.”

The post Partnerships, Presented by Taylor Made Partnerships: Rocket Wrench Racing appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Finding The Right Syndicate For You-Part 2, Presented By Taylor Made Partnerships

The Midwestern sage, Mark Twain espoused, “The secret of getting ahead is getting started.” Nothing could be more apropos when considering joining a Thoroughbred racehorse partnership.

Getting started is the hardest part for most prospective owners. The world of Thoroughbred racing can seem as inaccessible as the Churchill Down's Turf Club on Derby Day. The good news is joining a partnership makes getting started easier.

In the first part of this series, we provided basic information such as investment levels, tax considerations and the entertainment value partnerships offer.

In Part 2, we will provide insights into the experiential considerations that can make your personal journey into ownership more valuable.

Owning More That 5%

You should always begin by considering what is going to be financially comfortable for you. If your investment level is below $1,000, your focus should be directed toward micro-share opportunities like MyRacehorse, Wasabi Venture Stables, or a racing club at your local racetrack. These vehicles offer participation for as little as a couple hundred dollars and generally offer less than 1% interest in a horse. Micro-share partnerships rarely present any financial windfalls, but do give you the excitement of participation and a friendly conversation starter at your next social event. They also make great gifts for a horse lover in your life.

If you are comfortable in investing $1,000 or more, look for an opportunity where you can buy in for at least 5%. Truth be told, percentages have their privilege in Thoroughbred ownership. We all know that 5% of a $10,000 claimer is quite a bit less than 5% of a $1 million yearling.

What you may not know, there are significant benefits of being at least a 5% partner. Owning 5% means that most racing jurisdictions will require you to become a licensed owner. Once you are licensed, you now have access, and access is where the real fun begins.

Trainer observing morning workouts | Coady Photography

With a state-issued owner's license, you typically will have access to the stable area and your horse. Watching morning workouts, spending time in and around a functioning training operation, and gaining insight into how the stable area operates are a handful of the most fascinating activities an owner can experience. Feeding carrots and treats to your horse can be worth the price of your investment alone.

On race day, you will have access to the paddock area to see your horse prepare to head out to the racetrack. The paddock is where you can interact with your jockey, trainer and other partners. Most racetracks also offer owner privileges like free admission, free programs, reserved seating areas and invitations to special events. These perks are part of your return on investment and an enticing incentive to own at least 5% of a racehorse and becoming a licensed owner.

The Partnership Personality

You are now at the point where you are hungry to get started. Do not make the mistake of buying the proverbial sizzle of a partnership… you want the steak. What a partnership portrays in advertising or by the general partner may not be what is served. You need to learn about the partnership's personality, in other words, where the meat is. How does the partnership communicate with its owners? How often does the partnership send out updates on horses? Do they use social media, e-mail, or other platforms? What level of input will you have?

Some general partners are great at taking input, others prefer to remain focused and rely on their own experience and skills. If you are a person that likes to socialize, do not hesitate to ask what events, or get togethers, are typically planned. Talk to current partners and get their feedback while simultaneously gaining a sense of whom you will be sharing the experience. Part of your return on investment are the relationships you develop. Simply make sure you get the steak and not just a bunch of sizzling mushrooms.*

Geography

Most partnerships run their horses at specific racetracks or on a circuit. You need to determine if you are ok with watching your horse race on the computer or if you want to go to the racetrack and enjoy watching your horse race live. There are racetracks that are great for bringing friends and family with you and others that do not make the greatest first impressions.

California racing | Benoit

Where you live or where you are willing to travel is important in how immersed you can get into ownership. Living in Missouri does not mean you should not own a racehorse, it just means you may have to travel more vs. someone that lives in Southern California. Conversely, if you are solely interested in a financial return on your investment or are allergic to hay and hate the smell of manure, seeing your horse in person may not matter. The bottom line is: know where your horses are most apt to race and determine it if falls in line with what you are seeking.

The Mission

There are partnerships for breeding, buying yearlings, pinhooking, buying two-year-olds, claiming, and everything in-between. What is best for you is a choice. Start by asking yourself if you like action or if you are willing to be patient and potentially end up with a Kentucky Derby horse. Most new owners benefit from getting involved in a claiming partnership first.

With these partnerships, you can make your investment one day and be at the races to watch your horse run within weeks. Typically, new owners start in a claiming partnership, move to buying into unraced younger horses, then yearlings and down the road becoming part of a breeding opportunity. All are available to you with partnerships and you will be learning and becoming more adept along the way.

The Cherry On Top

An area that has become especially important to new owners coming into the sport, and rightfully so, is aftercare. Prospective new partners should ask, “What will happen once our horse is done racing? Can we still follow our horse after it retires?” Do not hesitate to ask these questions about any partnership you are looking to get involved in.

Some partnerships have aftercare programs in place, some have aftercare organizations they work with, and others unfortunately have no answer to this question. When you buy a Thoroughbred racehorse, you will discover an intrinsic connection to the horse, it is inevitable. Making sure you participate in a partnership that cares for their horses after their racing career is over is to be applauded and supported.

Wonder Wheel | Sara Gordon

The path to becoming a Thoroughbred racehorse owner has never been easier. Partnerships have led the way in making ownership more accessible to everyone that loves horse racing or horses.

Finding the right partnership for you is a process, a process that hopefully has been made simpler by knowing what to ask, what to look for, and what really matters to you personally.

Note: a mushroom is a term in racing is often referred to an owner who is kept in the dark and fed manure.

The post Finding The Right Syndicate For You-Part 2, Presented By Taylor Made Partnerships appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Partnerships: In Front Racing Stables Personifies Integrity Through Partnerships

In Yiddish, a mensch is a person who personifies integrity, morality, dignity and a sense of what is right and responsible. But mensch is more than just an old Yiddish adage, it is a word that best describes the managing partner of In Front Racing Stables, Howie Heiberger.

Heiberger was born and raised in Brooklyn, New York and that meant having Aqueduct as a beacon of fun and excitement just a few miles away. As a teenager in the late 70s, he and his friends would put forward the $1 it cost to take the Express Bus east to Queens to take in an afternoon at the races. The gang of wide-eyed neophyte gamblers would pool their money in the hope of making a score just like their seasoned counterparts. However, more often than not, Heiberger and his young Brooklynites would end up having to take the subway home, which only cost 35 cents since the bus fare was long gone.

Heiberger has spent the last 20 years building a successful catering and event center business in Freehold, New Jersey. The success of his Aurum Events and Exquisite Caterers now means he doesn't need to take the bus any more, but the memories of Aqueduct have never left. Always a casual horseplayer, Heiberger decided to dip his toe into the ownership game and began buying into partnerships about 10 years ago. Owning 3% to 5% of different horses made it clear to him that you did not have to own the whole horse to enjoy the total experience. That revelation inspired him to start In Front Racing Stables in June 2021.

Howie Heiberger | Howie Heiberger

Within weeks of getting the stable set up, Heiberger, some family and a few close friends dropped a claim slip on a 4-year-old mare named Tenderness (Medal Count). The $20,000 claimer would be the start of a long eight months of frustration for the new partnership group. In Front Racing Stables had 14 starts and waited eight months before they finally visited the winner's circle with one of their horses. Not everything was dark clouds for the new stable though, prior to their first win they were able to hit the board with their horses 50% of the time, so money was coming in and the bills were getting paid. With exactly 100 starts, as of the writing of this article, you can now find 15 winning photos on the wall and the group sporting an in-the-money strike rate of 46%. The success of the stable is a team effort. In Front Racing Stables currently employees the services of trainers Linda Rice, Jose DeAngelo and John Toscano to train and race their horses.

Heiberger also works with Larry Kaufman who is on the ground at the NYRA tracks to find the right horses to claim and add to their stable. Claiming is the name of the game with In Front and it has become their bread and butter.

In Front Racing Stable offers a unique proposition to its current and future partners: No bills. Once a partner decides to invest in a racehorse, there are no cash calls for training, vet work, transportation, etc. The ability to offer partners this unique opportunity is achieved through a formula that gives trainers 60% of the In Front horse's net purses earned and the partners 35%. Heiberger retains 5% of the net purses to cover the costs of running the operation. As the general partner, Heiberger also marks up all claims 15%. “Our partners really like the model we have established because they know what they want to invest and that is it,” he said. “No cash calls or bills. I have been in business a long time and you have to believe in the product that you are selling. I believe in this model.”

So do his partners, who now exceed 75 participants. Active partners number around 45 and 25 partners are in on almost every horse claimed. Most are from the East Coast, but In Front has partners that live in Arkansas, Oklahoma and as far away as Arizona. “We primarily race in New York and Florida, but I have the Oaklawn Park condition book in my hands now, so we may be expanding west,” he added.

In Front Racing Stable | Howie Heiberger

In Front partner Michele Farina had the same experience of sneaking off to the track while still in school. “We talked about experiences having grown up around the game and had things in common,” said Farina. “Besides being such a nice man, I respect how he has established and grown the stable. Also, meeting the other partners has been great and we basically all hang out together when we're at the track whether we're running a horse or not and that is what I really enjoy.”

One of those other partners Farina referred is Joey Zayas. “Howie ensures you are part of everything, from your thoughts on the horses they select as a possible claim to the race selections when that flexibility arises. I started with MyRacehorse, and even though they provide a great experience for the new, perhaps inexperienced horse owners, you are not that engaged with the day-to-day operations like In Front.”

In Front partner Steven Rapoport also has had experience with other partnerships. “I was a member of Karakorum Farms, Drawing Away Stables and Top Hat Thoroughbreds in the past,” he said.

“We have a group of 60 or so partners here who can look at claims. evaluate horses and try to make intelligent claims. The no-bills aspect makes it affordable.”

Heiberger is appreciative of the owner perks NYRA offers and one of the reasons he strongly recommends partners own at least five percent or more, so they can get licensed. “When you are a New York licensed owner, you get free admission for yourself and immediate family, free programs and owner's parking,” he said. “They even have an owner's lounge area. These things bring value to horse ownership.”

Teaching novices about ownership, introducing them to trainers, jockeys and others in the game is what drives Heiberger to grow In Front Racing Stables. “I want to give our partners a great experience just like with my businesses,” he said. “I also want them to learn, and interact with all aspects of the game, and most of all I want them to have a shot at making some money.”

This may seem like a lot to offer to small percentage owners, but that is simply what a mensch, like Howie Heiberger, does.

Joe Scurto is the principal at Horseshoe Marketing. His Twitter is @RacingHorseshoe.

Editor's Note: Partnerships, presented by Taylor Made Partnerships, is a new TDN feature which explores different partnership groups at different investment levels across the country. Each month, we will choose a different group to profile.

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