Buying a race horse for the first time without all the information is very risky. You would not give a finacial advisor access to all of your money, without establishing a trusting relationship first. You need to speak to other owners, trainers and barn employees to get a basic understanding how the operation works. Once you have gained more knowledge, you will be more prepared to own your first thoroughbred race horse.
Partnerships are a great option for the first time owner. You can join up with a more experienced owner to guide you in the new venture. Some trainers are willing to partner with new owners as well. This will offset cost and can be beneficial to both trainer and owner. You can read more about partnerships and owning race horses at http://CrockerRacingStable.com.