Aug 8, 2022
Welcome Back to Kick Ass Boomer, Today we are joined by Michael Cobb. At the height of a successful career in the computer industry, Mr. Cobb left to pursue more pioneering opportunities in the emerging real estate markets of Central 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, and throughout the region.
As the need for capital outstripped the supply, the mortgage company was converted to an international bank under the jurisdiction of Belize. It continues to provide mortgage services but has expanded its services to encompass the full realm of financial products.
Mr. Cobb also saw the need for a regional real estate company that would serve the Baby Boomer consumer with a North American standard product for the next 2 decades. He led the group into real estate development and created a holding company for several properties including a resort on Ambergris Caye, Belize. In August of 2000, Exotic Caye purchased 3.5 miles of Pacific Beachfront property due west of Managua, Nicaragua. This master-planned community hosts world-class infrastructure, homes, and condominium units. In February of 2006, the ECI Development group acquired 1100 acres and 3km of coastline in Costa Rica, setting the stage for expansion into this popular market. Most recently they merged their Belize property with a much larger parcel and have begun to develop 200 condominiums units on Ambergris Caye, Belize.
Additionally, Michael has spoken at hundreds of international conferences about real estate financing and development. He has acted as a consultant to The Oxford Club and gives counsel to various real estate projects throughout Central America.
[00:30 - 07:40] Boomers find inspiration in overseas property
- Who is Michael Cobb
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- He Co-Founded Exotic Caye International (ECI)
- 26 years ago they started a development company in Belize. Eventually reached Nicaragua, Costa Rica, Panama, El Salvador, and currently in Portugal as well as Azos
- Mike's Corporate’s mission is to deliver an inspired lifestyle to adventurous people
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- Personally, his mission is tied to helping other people make decisions who want to move overseas. Most especially, helping them make the right decisions for the first time.
[07:41 - 15:05] How to Actually Do It Right the First Time
- Mike recommends that consumers change how they think and become more aware when buying property overseas, in order to avoid making mistakes.
- He recommends the use of the consumer resource guide, which contains questions to ask when buying property overseas.
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- 15 questions to guide those who are interested in buying
- To remove assumptions and fear when acquiring property overseas
- Moving to a country with a lower cost of living and higher quality of life is possible if you are on a fixed income and do your research.
[15:05 - 22:09] Breaking 15 Guide Questions into 3 Main principles
- Buy what you see
- Own community refers to the physical aspects of being in a community, such as friendships and activities.
- Know The Developer: this is important for making connections in a new community and finding resources.
- Volunteering is also an important way to connect with others and build relationships.
[22:10 - 29:05] How to Rule in a Country in Three Days
- The consumer resource guide is available for free and can be used in any part of the world
- It works just as well as it does in the Americas
- Real estate salespeople should rent properties before buying them to test if they like them
- Most people buy property within two to three years
[29:05 - 36:13] Renting is a great option for people who are thinking about downsizing or who are just starting out in their careers.
- Renting for a while makes sense because you can make a better decision
- It's important to figure out where you want to live and rent makes that easier
- It's important to do your research before making any decisions
[36:13 - 37:25] Closing Segment
- Connect with Mike!
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- Links below
- Final words
Connect with Michael Cobb through their website at www.ecidevelopment.com
Get your CONSUMER RESOURCE GUIDE
for Free!
by sending Mike an email through
info@ecidevelopment.com
Use KICKASS
as a subject line and ask for your
copy!
Tweetable Quotes
“It's interesting because 1 in 10 of the baby boomers is considering a property overseas. There are a thousand people a day considering a property overseas. And there are already 8 million ex-pats living outside of the USA and Canada.” - Michael Cobb
“Our mission as a company is to deliver inspired lifestyles and a fun place overseas for adventurous people. My personal mission is to help people who are making the decision to move overseas. To actually do it right the first time” - Michael Cobb
BEE BOLD, NOT OLD.
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