Preheat oven to 325°
In a large bowl, place sweetened condensed milk and hot water and mix until combined.
In a medium bowl beat eggs until fluffy ( I use a hand held egg beater).
Then pour the eggs into the sweetened condensed mixture, stir in vanilla and salt.
Place the mixture in a casserole dish, or individual dishes.
Sprinkle nutmeg on top.
Place the dishes in a baking pan with high sides.
Place 1 inch of boiling water into the baking pan making sure you do not get any water in the dishes.
Bake for 1 hour, a knife should come out clean after being inserted into the baked custard.
If it's baked in 4 oz jars 45-50 minutes (don't overbake or it will weep as it sets up)
Allow the dishes to cool enough to touch them, then place them in the fridge to completely cool.
You can eat it warm, but I prefer it cold. (If you want creme brulee, add granulated sugar and torch until the sugar carmalizes)
This makes approximately 10- 1 cup servings.