So you want to have your own horse farm. Should you build or buy? Hire a real estate agent or go out looking on your own? What about once you’ve acquired a facility–how do you manage the soil, fencing, employees, security, and manure? Four individuals versed in purchase, design, and management of horse farms shared their knowledge about establishing and getting the most out of your equine facility at the Thoroughbred International Exposition and Conference in Lexington, Ky.

“Treat your farm acquisition and management in the same way you should treat the horse business–don’t check your brain at the door,” said Arnold Kirkpatrick, president of Kirkpatrick & Company, a real estate and Thoroughbred brokerage, appraisal, and consulting firm, and moderator of the session. He suggested that people do their homework and make a plan establishing the type of operation, whether the farm is going to be public or private, its location, its size, whether it will be plain or fancy, and other aspects. “Each of the decisions is interactive with the other,” he added