Horse Economics. Catherine E O'Brien

       The Search

       The Pre-Purchase Exam

       Making an Offer

       Financing Your Purchase

       The Closing

       CHAPTER 5 Developing Your Property into a Horse Farm

       Plan Your Development

       Financing Options

       Contractors

       Contracts

       Clearing Land

       Estimating Project Cost

       Record Keeping

       CHAPTER 6 Keeping Up the Value of the Farm

       Your Biggest Investment

       Keeping the Pastures Green

       Preserving Fence

       Building Maintenance

       CHAPTER 7 Selling the Farm

       Deciding to Sell

       Market Ready?

       Sell it Yourself, or Use an Agent?

       Property Value

       Marketing Your Property

       Receiving an Offer

       Closing

       Calculating Realized Gain (or Loss)

       CHAPTER 8 Starting an Equine-Related Business

       Small Business Prerequisites

       Purchasing an Existing Business

       Starting Your Own Business

       Financial Assessment

       Managing the Risks of Self-Employment

       Local Zoning and Licenses

       Creating a Business Plan

       Financing

       Business Organization

       Business or Hobby?

       Business Insurance

       Dealing with Potential Problem Areas

       Getting Help Starting Up

       CHAPTER 9 Contracts

       Elements of a Contract

       Modifying a Contract

       Types of Equine Contracts

       Sample Contracts

       APPENDIX I Blank Worksheets

       APPENDIX II Glossary

       APPENDIX III Resources

       Index

       ACKNOWLEDGMENTS

      First and foremost, I thank my husband, who, when asked if he wanted a copy of the book replied, “Why do I need one? I have already read each chapter twenty times with pen in hand!” Thanks to Mom and Dad and special thanks to all who supported my ideas, gave willingly of their time and endured my questions in order to bring this book together. Among them were: Jeffrey Zwerdling, Esquire and Brett Zwerdling, Esquire, with the Law Offices of Zwerdling & Oppleman, P.C., Robert Harper with the Virginia Cooperative Extension Service, Greg B. Farmer, President and Chief Executive Officer of Colonial Farm Credit, ACA, Thomas Newton, DVM, Denise Gorondy, DVM, Ernest M. Swartz, MSW, Junior Johnson, Bet Poarch, Joel Groover, Albert Myers,Thom Trout, Nicole McCabe, Esquire, and Mike Roane, CPA, Jeff Love, CPA, Greg Forman, CPA and Elizabeth Amos, CPA with Mitchell, Wiggins & Company, LLP, Certified Public Accountants and Consultants. Lastly, I appreciate the staff at Trafalgar Square. Caroline Robbin’s additions and organizational contributions were most helpful, and Rebecca Schmidt’s patience, hard work, and sense of humor made the process enjoyable.

CHAPTER ONE

       Open Your Heart… and Your Wallet

       THE PERSONAL MEANING OF HORSE OWNERSHIP

Deciding to purchase a horse ranks up there with getting married or buying a house—it can be just as expensive as either of those undertakings. I have had horses since I was fourteen, and as a financial analyst, I now realize that if I had saved and invested all the money I have spent on horses over the years, I could be rich!