Podcasts Culture Jet Setter Show JS 83: Real Estate Investing in Central America with Mike Cobb President of ECI Development

JS 83: Real Estate Investing in Central America with Mike Cobb President of ECI Development

Published: Nov. 12, 2014, 3:56 p.m.

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Mike Cobb is the president of ECI Development and has been living as an expat for the past 11 years in Central America with his wife and two daughters. He is currently located in Nicaragua and speaks to Jason about what life is like in Central America along with some interesting real estate movements in Nicaragua, Belize, Costa Rica, and Panama.\\xa0

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Key Takeaways:

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3:00 \\u2013 If you look at Panama today, it looks like Miami. Due to location, Panama has been doing very well economically. \\xa0

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8:27 \\u2013 Property taxes in Central America are incredibly low. With a $150,000 condo, your property taxes are $200 a year.\\xa0

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10:00 \\u2013 Minimum wage is $4 a day in Nicaragua and $11 a day in Belize.\\xa0

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18:20 \\u2013 People are moving to Latin America for better quality of life and to live this life on less money.

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24:40 \\u2013 Mike says living overseas is probably only right for about 5-10% of the US population.\\xa0

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28:50 \\u2013 Everywhere in the world there\'s corruption, Latin America is no different.\\xa0

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32:10 \\u2013 Nicaragua is perceived by many Americans that it\'s a dangerous place, in reality that\'s far from the truth, but because Nicaragua has this perception, real estate prices are incredibly low.\\xa0

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Mentioned In This Episode:

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http://www.ecidevelopment.com/

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