Jason Hartman talks with his client Greg Scott, a real estate investor living in Detroit and employee at Ford, about the current state of the Detroit real estate market, whether it might actually be a GOOD investment now, the future of self driving cars and more.
Key Takeaways:
[4:09] Where Greg currently owns rental properties
[6:29] The peak of metro Detroit’s population and what’s going on right now that might be making the population grow again
[8:37] One of Detroit’s suburbs is actually the 11th wealthiest county in the USA
[10:53] Some demographic trends in Detroit
[12:40] Why Greg is the most optimistic about the future of Detroit than he’s been in his entire life
[17:12] Some areas of Detroit that go along with the automotive industry and some that don’t
[19:40] Greg’s road to preparing to do multifamily investing in Detroit
[24:27] What Greg does for Ford
[27:57] How quickly we’re approaching self driving cars and the new city built to be a self driving car test ground
[30:15] How self driving cars can change the landscape of cities
[33:45] If cars didn’t need parking spots, what would we do with the 40% of the city that’s currently being used for parking
[36:25] If Greg would buy any of the $1 houses in Detroit
[39:10] Greg’s investing history and why he doesn’t do the stock market anymore