thoroughbred raising, racing, and breeding

Question
My friend and I want to breed, raise, and race thoroughbreds. How can I find a good thoroughbred with good bloodlines but is not too pricey and somewhere decent to board it (again, not too pricey)? And above all, how do I convince my parents?? I would also like some advice on training which we are pretty much stuck on.

Answer
Hailey,

I know exactly how you and your friend feel.  I was there once, too.
My advice would be to get as much practical knowledge about breeding, raising and training as you can long before you consider buying a horse.  There are lots of good books available to read, and you might look into getting a job at a local racehorse facility.  You'll want plenty of experience under your belt before any money leaves your pocket.  
There is an old joke about racehorses that is very true, unfortunately.  It goes like this:  How do you end up with a million dollars in the racehorse business?  The answer:  Start with two million.
With this in mind, getting a degree at a college with a good equine program wouldn't hurt anything, either.  Something to tide you over if the horses aren't running well is always nice.

Good Luck!
Stephanie Frost
www.alchemybloodstock.com