A new real estate startup named CORI is looking to flip houses with help from Uber drivers, according to an article in The Wall Street Journal.
Based in Atlanta, Georgia, the real estate firm is seeking to recruit Uber drivers to help it find derelict properties on their routes that CORI can buy and then sell for a profit. The company launched its Deal Finders program with roughly 100 drivers in January.
The theory is that the drivers can serve as an extra pair of eyes for such companies, helping to spot rough diamonds on their routes that could be transformed and sold on for a profit.
The new startup has trained ride-sharing drivers on what to look for in a home that could potentially be flipped, such as warning notices on the doors, abandoned cars in the driveway, overgrown yards and piled up mail.
Drivers get the following bonuses based on the sale:
$500 for net profits $5000 or under
$1,000 for net profits between $5001-14,999
$1,500 for net profits $15000 and over
So far, CORI has attracted over 100-plus Uber drivers into its Deal Program.