What Happened to Revestor After Shark Tank?
What is Revestor?
Revestor is a patent-pending real estate search engine that helps buyers and investors identify the best residences for sale based on expected returns.
Consumers and purchasers use Revestor to get confidence by analyzing whether possible residences can rent for mortgage payments.
Revestor was created in 2011 by Billy Lyons. Revestor can help determine whether or not a person can rent a residence for the payment is critical and may help reduce risk while offering peace of mind. Revestor gives its consumers the knowledge they need to make educated decisions.
Who is the founder of Revestor?
Revestor was launched in 2011 by Billy Lyons. He formerly worked in the financial services business. Prior to the 2008 housing crash, Bill built and oversaw a $20 million mortgage and life insurance company.
When the bubble burst, he lost millions of dollars. To regain his footing, he created an algorithm and a website called Revestor to help people like him invest in real estate.
The application calculates mortgage payments, cap rates, and cash flow while comparing the factors for nearby residences.
Although it is a tool for house buyers, Revestor is designed for real estate investors. Agents and brokers can also utilize Revestor to get information.
Lyons has worked in the mortgage sector; therefore he is familiar with the statistics of the real estate market.
The basic software is free, but a premium membership option allows for more in-depth customization for individual properties and investment circumstances.
Lyons makes money from the app by selling advertising and premium subscriptions. Data collection is critical for an app like Revestor, and the company is continually expanding its database.
What Happened to Revestor’s pitch on Shark Tank?
In Shark Tank episode 9 of Season 4, entrepreneur Billy Lyons pitches Revestor, a real estate investment program, to the Sharks for a partnership.
Billy entered the Shark Tank pitch seeking for $250,000 for a 10% stake in his firm, which worth $2.5 million.
He believes that Revestor will be the finest tool for real estate investors across the country since it will provide users with quick access to information and critical indicators that will determine how good a property’s investment potential is.
The program was primarily aimed at investors, although real estate agents and “regular” buyers can also benefit from it.
Mark despises the company and quits. Daymond was close behind.
Barbara, who would be a good partner for a real estate business, does not trust that an app can evaluate value; she also went out. Billy, Robert concludes, lacks a solid business approach, so he follows him out.
Mr. Wonderful argues that real estate investors make up an unacceptably small portion of the buyer’s market. He appreciates Billy’s efforts, but he also exits, and Billy ultimately leaves the pitch without a deal.
What Happened to Revestor After Shark Tank?
Despite the fact that the deal was not secured during the pitch, additional sections of the country are now connected. There is still no Android app, and premium accounts have yet to be approved.
Revestor made some strides with their advertising options, allowing real estate professionals to use the app to target particular buyer needs.
The app is still in its early phases, but all indications point to a steady roll-out and a fully working product by 2013 Q4.
Griffin Funding, a lending firm, was started by Lyons in September 2013. In 2021, that company’s annual sales will reach $5 million.
In August 2021, the corporate website will be functioning; however, the app will no longer be available in the app store. The website is up and running, but just for the greater San Diego region.
Revestor’s Competitors
Assess+RE, Knock, AkitaBox, RealStax, and Boston Logic by Propertybase are Revestor’s main market rivals.
Revestor’s Net Worth
During and after the pitch, the firm was valued at $2.5 million. Since then, the firm has grown to generate annual revenues of $5 million in 2021 and hence the company net worth might have been higher than that of pitch.
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Revestor FAQs
What is Revestor’s target market?
Revestor was created to help real estate investors determine whether or not they can afford a home based on its income potential.
How does Revestor make money?
The basic software is free, but premium membership allows for customized features, including pricing and mortgage information for individual properties.
The cost of premium memberships depends on the plan, which can be billed annually or for three months at a time.
How do real estate agents use the app?
The app can be used to market properties and prospective buyers.
How does Revestor differ from other similar apps?
Instead of being a simple listing service, Revestor allows users to assess a property’s expected income, cap rate, and cash flow. Revestor also shows a community’s resale trends and its amenities.
Who is the founder of Revestor?
Billy Lyons, a former mortgage executive and real estate investor created the program in 2011.
What is Revestor’s target demographic?
The app was initially designed for small investors, house flippers, and new home buyers. However, Revestor has been gaining support from the real estate industry because of its extensive database and compatibility with different platforms.
Where exactly is Revestor located?
The firm’s headquarters are based in San Diego, California, with other sales offices in Texas and Utah.
How does Revestor work?
The program requires a user to fill in personal information, such as their occupation and financial situation. The information is then used to calculate the home’s income potential and its cap rate, as well as its cash flow and return on investment.
What is Revestor’s competition?
Other similar apps include Assess+RE, Knock, AkitaBox, RealStax, and Boston Logic by Propertybase.
How does Revestor compare to the standard tools used for house buying?
Home buyers can use a simple website that simply allows them to view homes. On the other hand, Revestor provides investors with more in-depth information about a property.
How to download Revestor?
Revestor is an app that is available for Android and iOS users. Users can download the app from the App Store or Google Play.
