[petervandijck]

Finding a good developer is hard, especially since you're (it sounds like) not technical enough to evaluate their work. So here's a suggestion:

1. Take 20,000, and hire 4 developers for 5,000 each for, say, a few weeks of work. Have them build the SAME product. At the end of the few weeks, evaluate who you like better. There will be likely someone who stands out. Hire them.

2. Take 40,000, and build the product. Launch it. Keep removing features until you can build it for this amount.

3. Now after (and only after) you've launched, take customer feedback, and spend the next 40,000 finetuning the product.

There are of course also other ways to go about this :)

[petervandijck]

Also, being up-front about your limitations will make developers like you more.

And also, make a spec with Balsamiq, just mock up the main screens. Do NOT write a long Word document spec.