Looking at the 20 horses listed before he bought the last two, he is getting crushed on the costs as it costs approximately $45,000 to own a horse. Even for the pathetic $10,000 claimers.
As for the last two horses, he is already deep in the hole until they start winning real races. My guesstimate is that between the two they will need $500,000 in net purses to break even.