Bill Lyons founded and operated a $20 million financial services business that specialized in mortgages and life insurance. And then the housing bubble of 2008 burst and Bill lost millions. He then created a real estate search engine, Revestor, for home buyers, investors and real estate professionals to search for homes with the highest potential returns. It calculates mortgage payments, cap rate, and cash flow while comparing the variables for nearby properties. The basic app is free, but there is a premium membership option that allows for more detailed customization for individual properties and investment circumstances. Lyons monetizes the app with advertising and through the premium memberships.
The sharks were quite vocal about how much they did not like the app and doubted its effectiveness. They all went out. Bill left the Tank feeling as though he had been through a wood chipper.
After his appearance on Shark Tank, Bill started another mortgage company, which did well. He was able to invest more money into Revestor. He relaunched the website focusing on rental properties and intends to add flip opportunities. He uses subscription and advertising models.
