21 Jun 2013
Rethink your search with Revestor
The online search for real estate has not changed much over the years. Fill in your desired location, price range, bedrooms and bathrooms into the MLS, Zillow or Trulia and out comes a list of available properties according to your criteria. This is perhaps all you need as a homebuyer, but savvy real estate investors know they need more than that; they need the raw numbers to go with the deal.
Revestor hopes to help investors identify good investment opportunities by including the much needed math for properties right at the beginning – in the online search results. The website was founded in 2011 by Bill Lyons after bringing on board Teevan McManus, Boris Kaliman, and Tom Ketter – an experienced team in real estate, marketing and tech.
While the search engine gives basic search parameters like how many bedrooms or bathrooms on the property, it also gives some detailed options including the cap rate, cash flow, and cash-on-cash return based on the estimated rent in the area.
Bill explains further, “Investors spend hours per day on three computer screens -one screen a spreadsheet, one screen on a nationwide real estate site or MLS and the 3rd screen on title profile. Revestor helps you sort through the MLS, and can run the numbers for you based on the average rent (or a rent that you manually put into the system), the financing you are going to use to acquire the property and the minimum required return to make it worth your while.”
“But aren’t the best real estate deals offline?” we asked Bill.
“There are plenty of quality deals on the MLS in your local market and other markets outside your area…users just have not had a good way to find them until now.”
Being able to compare deals between various locations throughout the US based on the hard numbers will certainly prove to be a plus for many investors who purchase remotely.
Revestor does all the work and math equations an investor would have done to find the perfect property. This is what makes the search engine ideal for investors because, according to Bill, “It’s about using today’s technology to make better buying decisions.”
The website was launched nationwide in 2012 and can access Revestor on their website or iPhone app. Revestor currently allows visitors to use a basic version of their search engine for free without signing up. Increased access requires visitors to log in by creating a free username and password. To have even greater control over the website and its powerful search parameters, users are encouraged to signup for Premium Membership at $99 a month after a 5-day free trial.