What is ECI Development? In this review you shall learn how it can make your dreams come true as a homeowner, tenant, or investor. This is one interesting company whose activities are very relevant in the present-day world. Let us jump straight into it and look how this biz works!
Company Name: ECI Development
CEO: Michael K. Cobb
Overall rating: 
(3.5 / 5)
Recommended: Not unless you know exactly what you will get…
Warning!
(Update July 2023)
It´s hard to not get affected by the many bad reviews about ECI lately,
personaly I am not sure if I can recommend them at the moment.
Therefore, if you are interested in the kind of services they offer, I would recommend any of these resources instead (from Sovereign Man):
Ultimate Plan B Guide (get second passport, reduce your taxes without moving abroad, etc)
Do Taxes in Puerto Rico (reduce your taxes)
Best Places to live (Puerto Rico)
Or, if you want you can read more detailed about ALL that is offered by Sovereign Man:
With that being said, let´s continue with the review on ECI Development!
Intro:
With most people having realized that it is possible to move to a different geographical location on another continent, the demand for high quality but affordable real estate is on the rise. ECI Development has swooped in on this opportunity! Read on till the end of the review to find out the opportunities that you stand to benefit from.
What is ECI Development?
ECI Development exists as a real estate development firm that works in Central and Latin America. The company has existed for more than 24 years, offering its services through a model that’s similar to that of Sun City. Sun City is known for having developed communities in various states in the USA. The communities were all filled with impressive amenities that could be utilized and enjoyed by their members, as part of the homeownership scheme.
ECI Development executed this concept and then spread its roots to Central and Latin America, in a bid to capture more clientele in the emerging markets. People who would like to migrate to fast-growing markets such as Costa Rica and Nicaragua can easily access affordable homes to live in.
The options availed by ECI Development are appropriate and sufficient for those who would like to either maintain their current living standards or to level up to a better lifestyle. All these options are availed at reduced prices.
Currently, this company has several developments in countries and regions such as:
- Nicaragua
- Belize
- Panama
- Argentina
- Costa Rica
- El Salvador
**Find more details about each country on this page
In all the above countries, ECI Development has a diverse array of housing options, ranging from the tiny homes which are growing in popularity, to the beachfront communities that have been a favorite among many homeowners.
Beyond taking its position in the developing markets ECI Development is out to keep its commitment to developing sustainable buildings while improving the lives of those who already live near the developments. This company has for instance worked with non-profit organizations to bring medical clinics to the local communities.
Those who would like to move to Central and Latin America for whatever reason can take up purchasing, renting, and vacation options, and finance their stay through Caye Bank, or using Cryptocurrencies.
How does it work?
Like many other companies in this industry, all you have to do is to reach out to ECI Development, for them to offer guidance on how you can own, rent, or invest in real estate in its communities.
With the information offered by the support staff at ECI Development, you can decide whether to get started with them right away or to consider other options in the market.
Who Owns/Runs ECI Development?
ECI Development has managed to gain attention from major news outlets, and all this has been made possible by the effective management of its daily operations. The company’s leadership team has overseen the planning, development, and marketing of various establishments in different geographical locations. Currently, ECI Development is run by the following people:
- Michael K. Cobb- The Chief Executive Officer
- Joel Nagel – Co-founder
- Eddie Littlefield – ECI President
- Valeria Espinoza – Vice President of Operations
- Rachel Jensen – Vice President of Sales & Marketing
- Michael Fuller – Marketing Manager
What is ECI Development’s Leadership out to achieve?
You can tell much about a company’s future by simply looking at what its vision and mission entail. For ECI, there is an understanding that developments are bound to have impacts on the communities around them. It has, as such, committed sufficient resources towards the enhancement of the lives of those who live close to the developments. This is achieved through a defined Corporate Social Responsibility program that runs sustainability-oriented projects.
In addition to that, ECI maintains its commitment to creating real communities for its owners. This has been one of the main reasons behind its success so far.
Most of the developments in Latin America that other developers have already established lack amenities such as reliable electricity, stable water pressure, reliable internet, and high-quality medical centers. The quality of their construction is also questionable. ECI steps into the scene with the right solutions, in the way it delivers on the required infrastructure, that can sustain the lifestyle that many people would love to plug into.
There are sufficient amenities, such as golf, tennis courts, and healthcare centers that are all part and parcel of what most people would like to access.
ECI Development’s partners and joint ventures
For companies such as ECI Development, strategic partnerships are a necessity. Partnering with other companies makes it easy for real estate development firms to penetrate certain markets easily, and to draw attention from a larger client base. ECI’s success in the regions is has managed to set up shop in has been as a result of partnering with the following companies:
- Urban Design Associates
- Zürcher Arquitectos S.A
- Llansa Ingenieros
- Razor Sharp Public Relations
- RAD Architecture
- Design Directions International
- iPartnerMedia
- Trust Hospitality
- Project Delivery Group
- Nextera Environmental & Engineering Consultants
- KnightConsult LLC
What are ECI Development’s Advantages over other companies in this industry?
This company has positioned itself in such a manner that it can support the objectives of different people, differently, depending on their financial capabilities, and their needs. To achieve this, ECI offers people the opportunity to:
-
Own homes
ECI has ready-to-own turn-key real estate projects of varying sizes located in impressively-planned communities located in Belize and Nicaragua. There are many other additional community acquisitions that will be availed in the near future.
-
Rent Homes
This company has many options for those who would want to rent a home or condo in for example, Belize or in Gran Pacifica (Nicaragua).
-
Invest in real estate
Those who have ever considered owning real estate projects overseas can turn to ECI Development for an opportunity to grow their money in promising markets. Doing this presents them with an opportunity to diversify their real estate investment portfolios.
Is ECI Development a Scam or Legit?
Is ECI Development a scam or a legit company? This company is, in my opinion, a genuine company. The company has an active Facebook page showcasing its progress and operations. I also come across a number of reviews on Airbnb, which are mostly a representation of the nature of services one can expect. Most of the rental options have a rating of more than 4 out of 5 stars. The feedback given by the customers goes a long way in revealing what ECI Development has managed to deliver in terms of the creation of well-structured and amenity-filled communities. The company also has some mentions on a couple of news outlets, which is something that plays out well as far as the provision of social proof is concerned.
Pros and Cons
Pros
- Affordable real estate
- Customers can own or rent the houses/condos
- Sufficient amenities (including those not offered by other developers
- Option to pay for your house using cryptocurrencies (to keep all your transactions private)
- A wide variety of homes and houses
Cons
- Still yet to develop very many communities (it is a work in progress).
- Got some complaints online
Final Words and Verdict
Verdict: Not recommended (at the moment)
Overall Rating: (3.5 / 5)
Regardless of whether you have considered owning, renting, or investing in a home in a foreign country, ECI Development is doing that job by offering community-based sustainable homes and condos. With all the chaos going on in the world, you might have reflected on what a life far away in the scenic Central and Latin American regions would be like. So far, ECI Development seems to deliver quite an interesting offer, however, they are no the ONLY option out there.
Warning:
Due to many complaints about ECI lately) I would be very careful on moving forward with ECI without knowing exactly what you are getting into.
I would check out the services (and free resources) from The team over at Sovereign Man instead:
(get second passport, reduce your taxes without moving abroad, etc)
(reduce your taxes)
(Puerto Rico)
Or,
if you want you can read more detailed about ALL that is offered by Sovereign Man:
As you can see from this review in which we have discussed what ECI Development is all about, that this company has managed to get started on an impressive mission that is bound to see to it that more people own, rent, or invest in real estate in viable markets. I do not know where you stand with the idea of moving to another country, but from what I have seen so far, doing so can offer a very fresh start to life. Let me know what your thoughts about ECI Development are in the comments section below.
I wish you well,
Eric, Investor and Team Member at Gold Retired.
I am glad I read your review. Yeah, I had gone over to ECI Development’s Facebook page and had seen it quite active, which is good! I also liked that they have developments in several countries of Central and South America. And reading your review has given me peace of mind concerning investing in them. Thanks for this post!
First of all, thank you for your comment!
Agree that it is great that they have developments in central and south America. Happy to hear you found the review interesting and even more that you consider investing in real estate through them!
Thank you again!
/Best
SON UNA ESTAFA
Y que significa eso?
ECI is a scam. They are notorious for not paying consultants for design or construction services. Almost all of the people listed as active members of the business are not. I was a construction consultant for them for the Marriott Hotel in Belize and they haven’t the company over $75k for CM devices rendered. Be very cautious with them as they will take your services and money, promise a bright shiny development and not pay or deliver on any of it. Try and pinpoint their US address, you can’t as they don’t share that info, yet they will contract as they’re a Delaware company. Then they’ll say their HQ is in Belize at Caye Bank in San Pedro Belize where they do house employees in what’s known as money laundering offshore bank. Their Nicaragua project is several years past due and absolutely nothing to show for it. Many people are backing out as they should. Be careful, the entire company is a scam and after reading this comment you should run from investing with Joel Nagel, Mike Cobb, and anyone else within their ever rotating sales team.
Hi roy. Would like to get in contact with you. I was working with a construction firm that were hired by eci development and they left 30 employees without a job and owing us months of salaries.
hola Roy, támbien nos deben, como podemos entablar comunicación ?
Puedes escribiir aqui que paso?
ECI has not performed as they said they would! They are months behind schedule and lack the ability to communicate in a timely manner. It’s easy to hide behind nice web sites and I am not sure if the present web site has accurate data!
First of all, thank you for your comment.
Please elaborate a bit more on your experience and on what you mean with they being behind schedule? Do you mean their Mexico project that have been in the works for a long time but still not available or is it something else? That is the only thing I can think of that they are “behind schedule with” at least.
Thank you again for your comment and please feel free to elaborate a bit more.
/Sincerely
ECI Development shares do not have a resale market. I would stay far away in any investment. You can purchase class B shares but you will never be able to sell them. No dividends are paid. Just waist of money to have a sheet of paper that reads you own shares.
Thank you for your comment!
/Sincerely
why does he claim that no dividends are paid? and limited or no liquidity events?? Please clarify
First of all, thank you for your comment!
If you are interested I would recommend that you contact them with all your questions,
think you might get surprised on how helpful they are and how fast you get answers from them!
Thank you again!
/Best
Has anyone invested with them for their Teak Hardwoods? I see they have real estate investments in Panama, Belize, etc. in addition to growing teak trees in Panama and Nicaragua.
an absolute nightmare
I decided to come to Nicaragua as ECI and their staff promoted Nicaragua for a number of reasons on Youtube, the ECI website and in their promotional products as an easy country to migrate to (easy residency process), a safe country and a cheap country to live in.
ECI and their associates also collaborated for a while and to some degree they still do, with Jeff Berwick, “The Dollar Vigilante” (https://dollarvigilante.com/).
Basically with the same wording and a similar spin.
I fully paid for the house a few years ago and was told that by the time I would arrive in Nicaragua I would be able to move into my house.
When I arrived in early 20XX ECI had hardly started to build my house and other houses. The whole construction site looked more like a graveyard. For many months after my arrival there were hardly any construction activities on my house and many other houses. I stayed on Gran Pacifica and had to pay extortion level rent there whilst waiting for my house to be finished or not finished. What ECI tells you about residency in Nicaragua is not the reality here once you arrive and you go through the application process or talk to lawyers. I was even told by a member of my embassy in Managua that I had picked the worst country for residency in the whole of Latin America. There has been no help offered by ECI with the residency process. There are many issues at Gran Pacifica that you need to investigate before you spend your holidays there or even intend to invest and buy a property. I have lost a fortune because of how ECI, Gran Pacifica conduct business. The real, full story, I cannot report here. It will eventually be revealed and published on the internet on multiple channels. I am not alone and not the only victim of misconduct by ECI.
Thank you for your comment. Have been hearing quite a few negative stuff about ECI lately so not sure it feels right to recommend them at the moment, I would rather recommend people to check out the similar services offered by these guys: https://goldretired.com/what-is-sovereign-man
/Sincerely