By: Luke Douglas

For many, purchasing property abroad is the ultimate dream—an escape to a tropical paradise or a strategic investment in an emerging market. But according to Michael Cobb, CEO of ECI Development and author of a comprehensive guide on international real estate, that dream can quickly turn into a costly mistake without the right knowledge. With over three decades of experience, Cobb has made it his mission to help buyers navigate the complexities of overseas property purchases.

Avoiding Common Pitfalls

Cobb emphasizes that one of the biggest mistakes buyers make is assuming that real estate transactions abroad function the same way as they do at home. This misconception can lead to serious financial missteps. His book is structured around 30 essential questions that every buyer should ask before making a commitment.

To simplify the process, he breaks his guidance into three key principles:

1. Only Invest in What’s Real

In some overseas markets, real estate regulations may differ from those in the U.S. or Europe. Expectations around high-end amenities and future infrastructure may not always be met. Cobb suggests that buyers consider properties that are already built and move-in ready to reduce the uncertainty associated with investments in undeveloped projects.

2. Community Matters

A great property is only part of the equation—finding the right community is just as important. Cobb highlights the value of choosing a location where like-minded people have already established a thriving social network. A strong sense of belonging can make all the difference in long-term happiness abroad.

3. Do Your Homework on Developers

Buying from a developer is a long-term commitment, much like a marriage. Trust and careful research are key. Cobb urges buyers to vet developers thoroughly by consulting legal and real estate experts, assessing their track record, and considering both factual evidence and personal intuition before making a decision.

Destinations to Consider: Lifestyle and Investment Factors

When asked about his peak overseas property picks, Cobb makes a clear distinction between personal preference and financial opportunity.

• For Lifestyle: Nicaragua is highly regarded for its warm culture, relaxed lifestyle, and beautiful landscapes.
• For Investment: Ambergris Caye in Belize is a notable option, with the island currently undergoing significant development. It is seen by some as having potential for rental income and property value growth. However, market dynamics may shift in the future, with other regions, such as El Salvador, potentially becoming more prominent in the coming years.

Leadership and Industry Challenges

Michael Cobb has spent over 31 years navigating the complexities of international real estate. His leadership style embraces cultural diversity, strategically distributing company operations to leverage local strengths—marketing and finance in Belize, engineering in Nicaragua and Panama.

Technology has also been a game-changer. From the fax-heavy 1990s to today’s digital platforms like Teams and Zoom, Cobb highlights how seamless communication has fueled ECI’s global expansion.

One of the biggest challenges in Latin American real estate, he notes, is limited access to capital. Unlike developed markets, where financing is readily available, mid-sized projects in Latin America often struggle. To overcome this, ECI has tapped into North American investors and developed innovative financing models.

The Impact of Remote Work on Real Estate

The rise of remote work is transforming the real estate landscape. No longer tied to traditional offices, professionals are seeking international properties not just for retirement, but as primary residences while continuing their careers remotely.

Cobb sees this as a historic shift—comparable to the industrial revolution—where early movers will gain the greatest advantage. As more individuals embrace location independence, the demand for overseas property is only expected to rise.

The author’s expertise serves as a crucial guide for anyone considering an international property purchase. His emphasis on thorough research, community, and developer credibility provides a solid foundation for both lifestyle buyers and investors. Whether looking for a retirement haven or the next big real estate opportunity, his insights offer a roadmap to success in an ever-evolving global market.

Find your copy of How to Buy Your Home Overseas on Amazon.

Disclaimer: This article is intended for informational purposes only and does not constitute financial, investment, or real estate advice. The views and opinions expressed by Michael Cobb are based on his personal experiences and expertise in international real estate, but individual results may vary. Readers should conduct their own research and seek advice from a qualified financial or real estate professional before making any property investment decisions.

Published by Stephanie M.