Sometimes free birds are just as good as $50 birds. I agree with Warren...plan out a budget and go with it.
Well....since I am on a roll....there is another angle to this game. Go out and invest say even $500 for a dozen YB's, and even if you are able to win some races, the odds are, you will always end up with "extra" birds, that you are lucky to find a home for....much like being stuck with a feral cat, (like we were) which ends up having a bunch of cute and dear babies.
On the other hand, you could look at your hobby, as a possible 2nd career at some point in the future, and make some good "Investments", and then go out and win some races, well....you may end up with a product which is in demand. Using Mike Ganus as an example, he did not rely on free or "cheap" birds...he made "investments", which at the time, some people laughed at. They don't laugh anymore...they are green with envy. There are some other examples, but I'm not dropping names. (Winner of a certain One Loft Race last year, with a 1/2 Ludo is $160,000 richer) The dirty little secret is, that with the invention of the One Loft Race, one can make a tidy little income, not only from race purses, but from helping other people improve their colony.
Just like you can't make a million in the stock market, with only a $5 investment, you need to devote some serious investment capital, in order to earn those fat dividends. Ask anyone who has made any serious money in pigeon racing, and at some point in time, they have bitten the bullet, and bought some good high priced stock. If, on the other hand, this is a hobby "just for fun" or simply for club or combine competition, then of course, it is possible to spend very little, or even rely on all freebies. It's the old story of "Nothing Ventured, Nothing Gained"....unless of course, you are playing just for fun. But, if you have ever sat at a poker table, where the players were playing just for chips, it's not quite the same thing, as playing for chips, which can be turned into real money. Typically, the people who disagree with me, are not the ones who are willing to "Invest" $400 to $600 or more for a single bird's race entry fee, if they themselves have been unwilling to spend that much or more, for a single bird for breeding stock.
Not, saying you should, or should not, consider racing pigeons as an "Investment", I can only say, that my pigeon investments, have done much better, then some of the investments in my 401K and my IRA, or even my apartment buildings, but that is me......
