Are you someone who is looking for a property but is confused because of the lack of transparency and knowledge in real estate?
Or, Are you a new investor who is looking to bag some properties without undergoing loss?
Revestor is here to rid you of these problems with an app that helps you compare various essential variables with the real-time location of nearby properties.
Let’s take a look at Bill Lyon’s mission to help reduce complexity in real estate and provide everyone with the best properties possible.
Revestor at a Glance:-
| Idea | Algorithmic real estate investing website |
| Founders | Bill Lyons |
| Asked For | $250,000 for 10% |
| Accepted Deal | None |
| Sharks | None |
| Business status | In Business |
| Episode No. | Season 4, Episode 9 |
| Buy on Amazon | Buy Now! |
Index:
What is Revestor?
Revestor is a real estate investment app that offers features like calculating mortgage payments, cap rates, and cash flow, all while comparing them with the nearest properties.
It is a tool that helps both investors and buyers by providing apt investment data.
Revestor is not just beneficial for buyers and investors, but also for agents and brokers as it provides them with statistics on recent investment information.
The app is free for basic functionalities but requires a premium membership in order to obtain more detailed information on properties and investments.
Founder Story:
Bill Lyons, the founder of Revestor has extensive experience and knowledge in the field of real estate. He is a graduate of the University of San Deigo with a degree in business and administration.
He initially owned a mortgage bank, Miramar Capital Corp, and its brand Greenline Loans, which was founded by him.
The founder had faced a lot of difficulties during his career as a mortgage entrepreneur due to the complex nature of real estate and the lack of transparency in it.
Lyons, hence, decided to develop an app that helps investors track the potential profitability of the property. This also makes the process transparent to the users and reduces the complexity of it.
Did Revestor get a deal on Shark Tank?
Lyons entered Shark Tank with a demand of $250,000 in exchange for 10% equity in his company, Revestor.
He then presented his company as an essential real estate search tool that helps investors and buyers compare the prices of various listed properties in a particular location.
Even though Bill was an experienced individual in terms of real estate and investments, he was unable to explain his revenue model and his target customer base.
Barbara also stated that many factors that she uses while investing were missing from his app. Robert and Mark also pointed out that his application was more of a data spreadsheet than a business model.
All the Sharks felt that his explanation of the business was confusing and his business model was rather problematic with him trying to serve both investors and buyers.
Not being convinced by the business model, the Sharks unanimously decided to not invest in the business, hence, Bill had to return empty-handed.
What happened to Revestor after Shark Tank?
Revestor, being unable to secure a deal with any of the Sharks did not give up on his business and kept building it.
He however reoriented his strategy by solely focusing on investors interested in rental properties. He then founded, Griffin Funding, a mortgage company whose revenue was reinvested in Revestor.
The Revestor service is available only in San Diego for the time being and Bill has plans to expand his service to other states of the USA as well.
The annual revenue of Griffin Funding reached $5 million as of 2021, which shows his resilience and business acumen.
Product Details:
- Revstor provides comprehensive investment data while gradually adding new data to its database.
- It allows users to calculate the estimated Return On Investment (ROI) for any listed property in the USA.
- The system requires entering only the address of the property, and if it is listed, then the app generates price, rent, tax, insurance, mortgage rates, and many other essential variables.
- The app offers real-time search in any location required.
- Revestor helps potential buyers and investors become independent and free themselves from the clutches of dishonest brokers and agents.
What’s the net worth of Revestor?
The founder entered Shark Tank with a demand of $250,000 for 10% equity, valuating the company to $2.5 million. However, Bill had to return empty-handed from the show and hence, the valuation could not be gauged.
According to some sources, Revestor is estimated at a Net Worth of $5 million as of 2023.
With changes in its strategies and business-oriented deals, the company is sure to cross this valuation in the coming years.
Who are the competitors of Revestor?
the competitors of Revestor are:
- Greendoor
- Hejoma Garcia
- Duplex Chick
- South Gate Ridge First-Time Home Buyers
- Insight Orissa, and many more.
Is Revestor still in business?
Yes, Revestor is still in business. The company is based only in San Diego, which shows that it still has a lot of untapped potential and a lot of strategy changes to undergo.
Bill’s ability to adapt to various business approaches and command them shows that his company is sure to reach big numbers soon.
Social Links:
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, don’t forget to try our Android app 📱 which contains startup case studies and business book insights 📚 , verified business strategies, and no bullshit!!
Related Articles:
FAQs:
What is Revestor?
Revestor is a real estate investment app that offers features like calculating mortgage payments, cap rates, and cash flow, all while comparing them with the nearest properties.
What's the net worth of Revestor?
According to some sources, Revestor is estimated at a Net Worth of $5 million as of 2023.