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.
Key Takeaways:
3:00 – If you look at Panama today, it looks like Miami. Due to location, Panama has been doing very well economically.
8:27 – Property taxes in Central America are incredibly low. With a $150,000 condo, your property taxes are $200 a year.
10:00 – Minimum wage is $4 a day in Nicaragua and $11 a day in Belize.
18:20 – People are moving to Latin America for better quality of life and to live this life on less money.
24:40 – Mike says living overseas is probably only right for about 5-10% of the US population.
28:50 – Everywhere in the world there's corruption, Latin America is no different.
32:10 – 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.
Mentioned In This Episode:
