The voltage regulator is usually not the issue with your model bike; much more often it is the rotor. BUT, before you continue to just guess at the problem and waste additional money you really should do some basic electrical diagnostics first. Are the battery cables in good shape, with clean connections, and on tightly? That includes the ground end of the negative cable. Is your battery verfiably good?
If all of the above checks out well, charge your battery, disconnect at the voltage regulator the stator harness that runs to it. There will be three yellow AC wires in the harness. With the bike running, test all three for AC voltage with a multimeter. All three should indicate roughly the same amount of AC voltage. If memory serves, you should see approximately 78 volts on each lead. If a lot lower, or no voltage at all on any of the three leads, you've found the problem.
With the bike OFF, you can also test the stator for continuity; set your multimeter to ohms Rx1, and test these same three yellow leads for continuity amongst each other. You should have continuity between all of them. If the stator fails this test, the stator and not the rotor is the likely culprit. But as I said earlier, the rotor is the problem more often that the stator.