WIM Episode 12: Michael Cobb, Foreign Real Estate Consultant

At the height of a successful career in the computer industry, Michael Cobb left to pursue more pioneering opportunities in the emerging real estate markets of Latin America. In 1996, he and his business partner formed a company, Exotic Caye International, to provide loans to North Americans purchasing properties in Belize, Honduras, Panama, Costa Rica, Argentina, and throughout the region.

ECI is now a multi-country developer with projects in 5 countries of Latin America, and communities are planned in Ecuador and Chile as well. The model pursued is based on the Del Webb Resort communities in the U.S. with a focus on serving these consumers in multiple countries and geographies in the region.

In his spare time, he speaks at dozens of international conferences annually about offshore real estate finance, development, and ownership.

Learn more by going to www.ecidevelopment.com or by emailing info@ecidevelopment.com, where you can get their consumer guide!

Episode Takeaways:

·      Michael believes that money is trust & confidence – the physical medium is less important

·      Real estate can be a store of wealth, not only just an investment/revenue stream

·      He feels that Central and South America is much like a time machine – it’s in the path of progress, so it’s strategic to invest in real estate in countries that are up and coming

·      Freedom and personal responsibility are two sides of the same coin

·      A few reasons why it’s great to invest in overseas: there’s no big brother to regulate overseas; diversification outside of home country is smart