However, Bogut says he became increasingly frustrated with his inability to understand the language spoken around finance.
“I did an online course with RMIT through Open Universities Australia called personal wealth management,” he says. “I didn’t do it for a degree or piece of paper, I did it for self learning. As soon as I had finished that course I took over all my finances myself. I obviously don’t do my taxes but I do pretty much everything else even down to property leases.”
Bogut says he is “heavily involved” in Australian real estate, both commercial and residential, but startups also make up part of his portfolio, with his wealth invested 60 per cent in real estate,10 per cent in startups and the remainder in stocks and shares.
His latest investment is in startup Listing Loop, a marketplace that brings together just-listed and off-market property listings from real estate agencies.
Bogut has invested an undisclosed amount and says he is a minority shareholder.
I try to ask as many questions as I can before I invest.
“I liked the business,” Bogut says. “I have dabbled myself in real estate so know the issues with realestate.com.au and Domain. One thing that stood out was the time for getting a listing live. It can take up to seven days on other sites, with Listing Loop you can pretty much take a photo of the house that you are in and have it up pretty much in an hour.”
Bogut says real estate listings is a highly competitive area and challenging the two dominant players is “going to be hard” for Listings Loop but its offer of a cheaper alternative will help drive demand.
“I just do my research whenever I invest in anything,” he says. “I try to ask as many questions as I can before I invest. I started a ghost account with Listings Loop to go on there and go through the website.”
Bogut says he is focusing on Australian startups like Listings Loop and sports uniform provider Sportility after successful startup investments in the United States, which included esports team Cloud9 and PillPack, a subscription service for prescription medicine which was bought by Amazon for $US753 million ($1 billion).
Bogut says his PillPack invesment was “a good win” but warns when it comes to startups “not all of them are successful”.
He developed an interest in the sector while playing for the Golden State Warriors in Silicon Valley and now sees startups as part of a diversified portfolio.
“I like cool quirky ideas,” he says. “I like things that make sense and disrupt the market and I don’t necessarily invest in things that are going gangbusters.”
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Cara is the small business editor for The Age and The Sydney Morning Herald based in Melbourne