SharkTank Sunk Him, Then He Won Big With $1.4M with Revestor CEO Bill Lyons

bill-lyons

In Episode #469, Nathan talks to Bill Lyons, a successful real estate entrepreneur. He is the founder and CEO of Revestor.com. Revestor is in the business of helping real estate investors find profitable properties to rent out as short and long term rentals. He also helps identify properties for quick profits.

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Famous Five:

  • Favorite Book? – Slash
  • What CEO do you follow? – Tony Robbins
  • Favorite online tool? — Rapportive
  • Do you get 8 hours of sleep?— Yes
  • If you could let your 20-year old self know one thing, what would it be? – “That when you get to your 30’s, a week is like a day, a month is like a week and year is like a month and slow down. Do what you can today”

Time Stamped Show Notes:

  • 01:48 – Nathan introduces Bill to the show
  • 02:27 – Revestor started in 2012
  • 02:37 – Revestor is now focused short-term Airbnb properties
  • 03:08 – Bill is asking $ 250,000 for 10% in short-term properties
  • 04:10 – Bill was in Shark Tank in November 2012
    • 04:25 – Bill got 15,000 users but never got over 1,000 paid users
    • 04:38 – Bill can’t raise money after the show
  • 05:02 – In 2013, Bill started a mortgage company
    • 05:06 – In 2014, Bill did $ 500,000 in revenue
    • 05:10 – In 2015, Bill did $ 1.7 million in revenue
    • 05:14 – 2016, Bill is about to hit $ 5.5 million in revenue
  • 05:34 – Bill has been investing for the past few months in Revestor
  • 05:58 – Revestor did 0 revenue in 2016
  • 06:10 – The subscription plans were not working so they refunded them
  • 06:24 – Bill built a better platform to invest in Airbnb
  • 06:33 – Revestor re-launches on November 1st of 2016
  • 07:10 – Customers can see daily rent data in the website of Revestor
    • 07:20 – Revestor’s main data source
    • 07:34 – Revestor is paying $ 6,000 a month for the API
  • 08:25 – The properties in Revestor are for sale
    • 08:35 – The website will show you how you will earn when you purchase a property
  • 09:22 – Users can enter their own interest rate in the website
  • 10:00 – Revestor is pulling data from resources to come up with average daily rent
  • 10:40 – “You’re not going to get a good cash flow in San Diego on a long-term basis”
  • 11:18 – They are working with a PR company
  • 11:38 – Mortgage is Bill’s passion
  • 12:13 – Email list is 30,000
  • 13:40 – Connect with Bill through his Instagram and website
  • 15:20 – The Famous Five

3 Key Points:

  1. Learn from your experiences. Don’t let other people predict your business.
  2. Start from where you’re good at. Things are far easier when you already know what to do.
  3. Do what you can today.

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • Assistant.to – The site Nathan uses to book meetings with one email.
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments.
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel.
  • @bill_lyons – Bill’s Instagram account
  • Revestor.com– Bill’s website
  • Show Notes provided by Mallard Creatives

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