Posts

RealtyCast Global #3: A Resource Guide for Investing in Central America with Michael Cobb

RealtyCast Global #3: A Resource Guide for Investing in Central America

Welcome to episode #3 of RealtyCast Global – a global connection to all things real estate, hosted by Hugh Gilliam, president of Global Property Pros.

Navigating the world of investing & international real estate can be quite an endeavor. However, the journey can be significantly smoother when guided by experienced individuals like Michael Cobb, co-founder, and CEO of ECI Development. With over two decades of experience in developing in Central America, Michael Cobb has a wealth of knowledge and insights that can be instrumental for anyone considering making a move overseas.

The story of Michael Cobb is far from ordinary. A daring leap from the tech industry into the realm of Belizean real estate led him and his business partner, Joel, to identify a unique opportunity in Central America. This bold venture involved creating a mortgage company in Belize, a move filled with challenges, misconceptions, and valuable lessons. The journey saw the duo raising money, applying for a banking license, and eventually, the creation of a development company.

However, Michael’s journey did not stop there. He noted that the quality of local development standards left much to be desired. He took it upon himself to make changes to the development company’s standards, thereby improving the quality of the properties. This was just one of the many lessons Michael learned from his journey, which he has graciously compiled into a Consumer Resource Guide (click here to download the guide). This guide is a treasure trove of information, designed to help individuals avoid common mistakes and ease the transition of moving overseas.

The process of purchasing real estate, both domestically and abroad, carries its nuances. In the US, the majority of individuals opt for the guidance of a realtor when buying a property. However, this trend does not seem to carry over when purchasing property overseas, with many people going straight to a seller or developer. This fast-paced approach often results in buyers overlooking crucial factors and making uninformed decisions. The importance of slowing down and thoroughly assessing a property, especially in earthquake and hurricane-prone zones, cannot be overstated.

In terms of construction, building a new house overseas is only slightly less expensive than building one in the US. The costs associated with materials such as concrete, steel, doors, windows, and electric wires are priced at the world price, making them relatively uniform. The primary variable in the cost of construction overseas is labor, which is significantly cheaper. This lower labor cost can allow for intricate detailing and craftsmanship, creating a house that would cost significantly more to build in the US.

Lastly, Michael Cobb’s ‘Are You Ready to Live Overseas’ quiz is an excellent tool to gauge one’s readiness for a big move. It’s important to understand that moving overseas isn’t simply a romanticized notion; it requires thoughtful consideration and careful planning. The insights shared by Michael Cobb can be instrumental in navigating the world of international real estate and making a successful transition to living overseas.


For real estate agents looking to expand their business internationally, expose existing listings to a global pool of buyers, and connect with new clients, check out Global Property Pros.

For Property Buyers & Sellers seeking assistance in the international market, check out RealtyHive’s property marketing solutions.

SUBSCRIBE to the RealtyCast Podcast to be notified when new RealtyCast Global episodes air:

Apple Podcasts

Spotify

iHeartRadio

Google Podcasts


About the Guest – 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, Mike Cobb 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.

Website: ecidevelopment.com

Phone: +1.703.795.2555

Email: mcobb@ECIdevelopment.com

About the host – Hugh Gilliam:

Hugh Gilliam co-owned a national transportation company, created a land development business, and worked as a general contractor in residential and commercial construction for over two decades. Hugh also co-founded an international distribution company and successfully negotiated and contracted with 135 sales representatives in the United States, Canada, France, Brazil, Japan, and the Netherlands.

Today, Mr. Gilliam is affiliated with RealtyHive, LLC where he serves as Director of International Real Estate and President of Global Property Pros. His duties include involvement in commercial and residential transactions, plus promoting marketing systems and lead generation platforms.

He is also co-founder of the luxury digital magazine, DOORWAYS INTERNATIONAL, powered by RealtyHive, which serves as a platform for Brokers and Buyers throughout 70 countries.

Hugh’s Designations Include:

  • Certified Luxury Home Marketing Specialist
  • Certified Distressed Property Export
  • Certified International Property Specialist
  • Certified International Investment & Immigration Specialist
  • Transnational Referral Certification

Hugh’s Memberships Include:

  • Georgia Association of REALTORS
  • National Association of REALTORS
  • International Real Estate Federation (FIABCI-USA)
  • Asian Real Estate Association of America
RealtyHive Announces Partnership of Global Property Pros and FIABCI-USA

RealtyHive announces partnership of Global Property Pros and FIABCI-USA; Medal of Honor Presented to Hugh Gilliam

ATLANTA, GEORGIA, UNITED STATES, June 14, 2023/EINPresswire.com/ — RealtyHive, a global real estate marketing platform has announced a partnership between its global real estate networking platform, Global Property Pros, and FIABCI-USA, the world’s leading international real estate organization. At the installation of Carla Kidd as the new President of FIABCI-USA, she announced the partnership, which includes membership/access to Global Property Pros for all FIABCI-USA Chapter members.

“Having a global marketing platform for our organization just adds another level of value for our members,” stated Carla Kidd. “One of the things agents always have needed was a way to showcase their listings to other professionals around the world. Now, the world has become smaller due to GPP and all it offers to build referral relationships and sales.”

Through the partnership with Global Property Pros, all FIABCI-USA Chapter members will gain access to the platform where they can easily market their properties to buyers in over 200 countries, through RealtyHive. Members will also be able to connect with other like-minded real estate professionals around the world and gain new clients through these networking opportunities.

Hugh receiving medal of honor - Global Property Pros & FIABCI-USA Partnership

“Amidst the challenges of a global pandemic, Hugh Gilliam exemplified outstanding leadership as he navigated our national organization through uncharted waters,” stated Florentino Dualia. “Mr. Gilliam seamlessly adapted to the sudden shift to virtual meetings and kept the team motivated, engaged, and connected. His unwavering dedication and resilience helped the FIABCI-USA Chapter achieve great success despite the circumstances. Mr. Gilliam proved that true leaders emerge and thrive in times of crisis.”

ABOUT FIABCI-USA
Founded in 1951 in Paris, France, FIABCI, the International Real Estate Federation, is the world’s leading international real estate organization devoted to all real estate specialties and activities. With chapters in over 70 countries that are spread over five continents, FIABCI provides direct access to international real estate contacts and international business opportunities. Since 1954, FIABCI holds special consultant status with the Economic and Social Council of the United Nations. FIABCI takes great pride in our efforts to help the United Nations address serious housing and environmental issues worldwide.

ABOUT REALTYHIVE – GLOBAL PROPERTY PROS
RealtyHive is a global real estate marketing platform connecting property sellers and agents to buyers from over 200 countries, with over 2 million site visitors each year. In today’s ever-changing real estate market, real estate agents and industry professionals are seeking new and innovative ways to create value for their clients and grow their network. RealtyHive’s Global Property Pros was built by agents for agents, providing the ability for them to showcase their listings globally, collaborate with like-minded professionals on a common platform, share listings with buyers, track the global activity of their listings, stay abreast of popular countries to invest in, and be informed of global shifts in the real estate market.

Source: Read More

RealtyHive Exceeds $2 Billion in On-Site Inventory

Two billion of anything is a lot. Two billion seconds is more than 63 years, two billion miles is more than 4,185 trips to the moon and back, and $2 billion is more than the combined GDP of Dominica, Micronesia, Palau, Marshall Islands, Kiribati, Nauru, and Tuvalu. This month, we’re proud to announce that RealtyHive now has more than $2 billion in on-site inventory. 

“We’ve  worked hard to become a leader in real estate marketing and this is a big milestone for us,” said RealtyHive founder and CEO, Wade Micoley. “We’ve grown from our first property, a $40,000 old schoolhouse in Northern Wisconsin, to having properties of all types across the globe.” 

RealtyHive features properties from 27 countries ranging from a multi-million dollar office complex in Panama to a $5,000 vacant lot in Florida to a palace in Egypt. Interested buyers can attempt to score a deal by placing a pre-event offer on a Time-Limited Event property from one of RealtyHive’s motivated sellers. 

“When a property isn’t selling, most agents will reduce the price, but there’s only so low a seller can go. If you’ve exhausted your options or are just looking to create more activity on a property, that’s where RealtyHive can help.  We’re here to bring more buyers’ eyes to every property on our site,” said Micoley. 

###

RealtyHive is a global real estate company offering digital marketing and time-limited event services to a wide variety of sellers worldwide. Each month more than 100,000 unique visitors from 190+ countries view RealtyHive properties located across 5 continents. To learn more about RealtyHive services, including risk-free and no-upfront cost real estate marketing solutions, visit https://market.realtyhive.com.