FBF #641: Central American Markets, Foreign Lending, and so much more! - with Michael Sowers
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 8 September 2023
⏱️ 42 minutes
🧾️ Download transcript
Summary
Today's Flash Back Friday Episode is from Episode #357, which originally aired on November 15, 2021.
Michael Cobb is a real estate expert and international developer.
After success in the computer industry, Michael formed ECI Development in 1996. This residential resort development company builds communities in Belize, Nicaragua, Costa Rica, Panama, El Salvador, and Mexico. Tropical neighborhoods include homes, condominiums, golf courses, and hotels in beach, agricultural, and mountain locations.
Michael serves on the board of several multinational companies, charitable foundations, holds a CIPS certification, is a past International Director for NAR, and heads the International Referral Network (IRN) for Realtors. Michael and his wife, Carol, lived as expats, raising two daughters overseas, from 2002 through 2016.
Quote:
“We started a mortgage company to provide financing to North Americans.. and that business ultimately grew into a bank, but we are still largely a mortgage company.”
“Understanding that thin slicing of the marketplace is really important but also [is] understanding your goals and objectives.”
“To me, the biggest form of asset protection is diversification, and not just in terms of asset classes.”
Highlights:
02:00 - Michael tells listeners more about life with his family in Nicaragua, culture shock, and raising children outside of him and his wife’s native country.
07:24 - Michael discusses his shift from the technology industry into the real estate world and how ECI Development came to be.
12:54 - Michael tells us the reasons why his company doesn’t have many competitors.
15:23 - Michael lists some reasons why Central American real estate is so appealing.
28:50 - Michael talks about asset protection when owning real estate in Central America.
34:21 - Michael touches on ECI’s current real estate developments.
40:23 - Michael describes the process of someone touring properties.
Guest Website:
https://www.ecidevelopment.com/
Recommended Resources:
- Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you’re a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
- Learn more about Kevin’s investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
Transcript
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| 0:00.0 | Welcome to this week's edition of Flashback Friday. It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey. If you like to partner with Kevin and join his team at Sunrise Capital Investors, head to invest with sunrise.com to learn more. |
| 0:21.9 | That's invest with sunrise.com. |
| 0:24.5 | Enjoy the show. |
| 0:26.3 | Now, our guest for this week's show is a real estate expert and international developer, Michael Cobb. |
| 0:31.5 | Now, after success in the computer industry, Michael formed ECI development in 1996. |
| 0:37.4 | This residential resort development company |
| 0:39.5 | builds communities in Belize, Nicaragua, Costa Rica, Panama, El Salvador, and Mexico. |
| 0:45.4 | Tropical neighborhoods include homes, condominiums, golf courses, and hotels, and beach, agricultural, |
| 0:50.7 | and mountain locations. Michael serves on the board of several multinational |
| 0:55.0 | companies, charitable foundation, holds a CIPS certification, is a past international director of |
| 1:01.4 | NAR, and heads the international referral network for realtors. Michael and his wife, Carol, live as |
| 1:07.1 | expats, raising two daughters overseas from 2002 through 2016. And so, guys, without further |
| 1:12.7 | do I like to welcome my guest for today's show, Michael Cobb. Michael, how are you doing today? |
| 1:17.9 | Good, Kevin. Thanks for having me on. It's a lot of fun. Yeah. Thanks for joining us. And I know that |
| 1:22.6 | I just mentioned there that ultimately you and your family lived as expats from 2002 through 2016. As we started |
| 1:30.3 | to show here, you mentioned that you are back in the States. And so my guess is that you've been |
| 1:33.9 | back in the States since, is it 2016 or 17 when you actually came back? |
| 1:38.1 | Well, four and a half years. Yeah. Okay. What prompted, what prompted you coming back to the |
| 1:42.3 | U.S.? After all those years overseas? |
| 1:44.8 | Yeah, a great question. |
| 1:45.8 | We loved it. |
| 1:47.3 | We went to – we lived in Nicaragua for most of those years. |
... |
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