Most Great Startups Start Out on a Shoestring

Most Great Startups Start Out on a ShoestringRevestor, makes the impossible possible through innovation, resourcefulness, sweat and a big vision for the future

What is the name of your business and URL?

Revestor LLC www.revestor.com

We also have a blog at blog.revestor.com

A brief synopsis of the website / application ?

Revestor is a real estate search engine that searches homes for sale by the things that matter the most. Rather than just searching by location, price and bedroom like most real estate websites Revestor empowers users to search by key real estate indicators. Today’s apprehensive home buyers want to be empowered with better information to help reduce their risk and increase their potential gains.

Why did you start this company?

Real estate technology is stuck in the 1980’s and much of the information is fragmented among a number of different data sources, websites and archaic manual methods. We wanted to pull all of the relevant information together in one place to help home buyers, real estate investors and real estate professionals. The market is in desperate need of the Revestor product to help restore confidence among buyers and help real estate agents be more efficient.

Was your company started on a shoestring budget or funded?

We are seeking funding but to get the site developed, the patent filed and site live we self funded the business on a shoestring mostly by being creative and resourceful – and of course blood and sweat.

Who is your competition, and what do you do better?

Zillow, Realtor.com, Trulia. We believe we have more relevant data and search capabilities behind a superior user interface. We provide our premium users and advertisers more value for their investment. By providing value to our users we in turn are creating a revenue model like no other.

Why would a small business, entrepreneur, freelancer, etc use your product?

Real estate agents spend hours sifting and sorting through listings to find deals to present to their investor clients . Revestor is a tool to help real estate agents save time by instantly finding the homes that meet the investor’s guidelines. If I were a Realtor the first thing I would do in the morning is perform a search for that days properties in my clients filters and get them in their hands ASAP. (We will we be releasing a ‘saved alerts’ feature in the future that will email you as new properties become available in your search filters)

How could you effectively use these tools?

Most Great Startups Start Out on a ShoestringReal estate agents can use the Revestor product do save time and focus in on the action items that make them the most money.

Home buyers can use Revestor to empower themselves with better information for better decisions. They can find out if the home that they are going to buy will rent for the payment incase they need to turn it into a rental due to a job loss or relocation. They can find out if it is potentially a good overall investment for their future

Real estate investors can instantly search homes for sale by the highest returns. Investors can search by cap rate and cash flow and even drill down further to cash on cash return, debt service ratio and ROI based on their exit strategy (rehab & resell, or buy & hold). Some residential real estate investors like to use gross rent multiplier (GRM) we will be adding that as a key real estate indicator in the future.

A short bio of your company:

Revestor is a residential real estate search engine for home buyers, investors and real estate professionals to find homes for sale by the highest potential returns. Revestor’s patent-pending algorithm generates and searches key real estate indicators to help users quickly and easily find the best homes in their area in a map and list view format.

Do you offer free online or offline tools?

We have an online site walkthrough/tutorial video that helps educate our users about the site and how it works. It was homemade (shoestring) so we hope to get it redone once we have the capital to do so.

We also have a blog and facebook page that we are pretty active on with our users

As we build out our directory and user profiles we aim to provide a community on the site that users can learn from and share.

Are there different pricing levels?

The site is free for all to use.

Real estate investors who are looking for more data, more search filters and a stock like investing dashboard to keep track of their real estate portfolio and its total monthly cash flow (TMC) can subscribe to a premium account for $49/mo (coming soon)

Real estate professionals can advertise/integrate into our integrated services program which is a step by step process a buyer goes through to select service providers to assist them with the transaction.

Do you have a blog that keeps users updated?

Blog: http://blog.revestor.com

Facebook www.facebook.com/revestor

Twitter www.twitter.com/revestor

LinkedIn http://www.linkedin.com/company/revestor-llc

YouTube – httpv://www.youtube.com/watch?v=sC1bZ3RzKzQ

How long have you been in business?

We officially formed in May of 2011 but have been working on the algorithm, concept and development since November 2010.

Number of current users?

We are just in San Diego and Phoenix and plan on being nationwide by the end of Q1 2012.

We have 350 users in San Diego and Phoenix and over 2,000 who have reserved their user name for when we release more cities. The site receives anywhere between 300-1000 unique visits per day so we anticipate that when we add another 300 cities we will see daily visits go to 90,000 – 300,000 per day or 2.7 to 9 million per month.

Estimated yearly growth?

We are hard at work to be one of the top ten real estate websites by the end of 2012 and within the top three by 2015. Our focus is to drive revenues to $100MM/yr with a $1 billion market cap. We are focused on growing profitably and quickly.

How do you see your company in the next 2-5 years (more products or services?)

Residential real estate is a just a start. There are many asset classes that are under served by technology. Commercial, International real estate, stocks, business opportunities, life insurance could be a play to add in…we will see. Still no one has automated the mortgage financing process and that is probably the most archaic part of the real estate industry. That would be a fun project to take on but most likely would distract from our core business.

Our philosophy is to “do what we do best and let other do what they do best and not be all things to all people” unless of course we believe we can do it better – then we will!

How many employees do you currently have working with you and/or freelance contractors?

Most Great Startups Start Out on a Shoestring

Bill Lyons

Five total employees including myself. Two engineers/database admins, Two designers/choppers.

Are you looking to hire more people or contractors? If so, what positions and skills are you looking for?

Yes we will be hiring more programmers in 2012 as well as business development/sales positions.

What other web based products would you recommend to entrepreneurs, business owners, or freelancers?

http://icopywriter.com/

www.launchrock.com

www.appsumo.com

www.rentasmile.com

Any Patents Pending?

Yes, our algorithm for generating and searching key real estate indicators among several other claims has been submitted to the USPTO.

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