FBF #641: Central American Markets, Foreign Lending, and so much more! — with Michael Sowers

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.


“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.”


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:


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