CW 548 - Greg Scott Investing in Detroit - How Self Driving Cars May Change the Landscape of Real Estate in Cities Like Detroit and Make You a Nomad

Greg is a long time listener of the Creative Wealth show and purchased his portfolio properties through Jason’s channels way back in the late 2000’s. Greg heard his hometown of Detroit battered in Jason’s property tour review episode and called in to set the record straight about possible opportunities in Southern Michigan. He and his wife work in the automotive industry and are successful real estate investors in several different states. 

 

Key Takeaways:

 

Jason’s Editorial:

[1:22] Great upcoming episodes

[3:16] Scott McManus warns about using Self Directed IRA’s for real estate

[5:00] Thorough background checks 

[5:52] Mitigating your risks by choosing a larger investment organization

[6:48] An LLC entity inside of an IRA

[9:05] The big event in Mission Valley San Diego 

 

Greg Scott Interview:

[12:12] Greg is a Jason Hartman real estate investing success story and Jason’s favorite listener

[15:27] All real estate is local 

[17:51] The 11th wealthiest city in the U.S. is in Detroit

[20:26] Trends in the Detroit area

[22:21] Optimism for the city proper

[27:31] Investing in an industry that is not your bread and butter

[28:16] Greg’s powerpoint presentation and the syndication 

[35:10] Export Marketing and Product Forecasting for Ford 

[36:34] Self driving cars is a project every automotive company is working towards

[39:12] Ann Arbor has a fake city to test self driving cars

[41:06] The freedom that goes along with self driving vehicles

[44:55] The parking real estate conundrum

[47:19] Painting a better picture of Detroit 

[49:28] A flipper who became a long term investor 

 

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