Category Archives: foreign lands

Invest your money in construction projects globally

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

When we think about investments, we come across all sorts of investment avenues that are liquid as well as non-liquid. However, not many consider investing in construction projects globally as a good investment option. There are strong reasons attached to it which is why people are usually deterred to invest in investment projects in a foreign land. One of the strongest reasons is that you do not have a direct control on the project and it may become difficult to monitor the progress of the work by being away from the jobsite.

Other than having a direct control, other reasons also include political turbulence, company getting dissolved. However, these reasons can’t be considered to be too big for one to deter investing globally and can always be worked out before you end up investing in one such project. There are of course few Do’s and Don’ts that needs to checked first before taking a decision of any major investment in foreign land.

Check the viability of the project:-

You can definitely invest in projects that sound to be viable. Alternatively, if the project has all proper sanctions from the different authorities of that country, there is probably no other reason why it may get blocked. Investing in such projects being in a distant place can still be a good option. However, you also have to check your benefit in it. You need to first measure your risk and the returns that you can expect from the work at its completion. It will be worthy to take such risks where you know that it will fetch good returns. There are many American investors that have invested chunks of money into various foreign projects. In this case they do not have to deploy their men for the work and if there is any hurdle that shows up during the tenure of the project that will be managed by the construction company who has undertaken the work.

Reputation of the builder matters a lot:-

When an investor has to invest his money in construction projects, he definitely checks the credentials of the construction company who has taken up the work. In the same way, while investing in a construction project outside US, you have to check the credentials first. Meet the representatives of their company, do some research on their previous projects. By that you will get to know how big the construction company is and if it is prudent to invest in projects constructed by them. The reputation of the construction company should speak louder than anything else and that should be the signal for you to go ahead with them.

Stay away from countries that are politically unstable:-

You investments in a foreign land will bear fruit only if you put your money in a country that is politically stable and there is no fear of the government getting overthrown by rival political powers or the army of that land. Investment of any kind in a politically unstable country is too risky and not even worthy to take the risk.

Experienced men should be flexible enough to move to foreign lands

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

If you are a person who wants to climb up the ladder and also make good money then perhaps sticking to just one place is not the solution. You have to look for opportunities outside your city or state and if you are willing to move also outside your country. There are countries apart from US who pays good to foreign labors and especially more to Americans. They are of the opinion that Americans are more professional and know how to get the work done. Therefore the scope of you doing well in a foreign land is higher. This does not imply that you do not have much scope in home land but it is just that you get the extra mileage out there.

People from the construction arena have a wider range of possibilities in Gulf countries. So people from the US they work there for few years and then return to start a business of their own. This makes more sense to them as they are able to mint a lot of money out there and then once they return they know where they have to invest all their wealth. So they basically start up their own company. They are now able to take risks which were not possible for them to take during the time when they did not have enough money and can also strive for few months if at all the market is not doing well. So they can just sit tight with perhaps no work in hand and wait for the right moment. If you do not have money in hand, you will probably think of just winding it up and look for something else but moving to a foreign land has definitely helped you to take care of the bad times.

Countries outside US needs competent mechanics who are experienced and have the know-how to deal with specific issues related to the heavy equipment. So this gives the mechanics who have loads of experience under their belt to move to those places and take up the senior level position where they do not have to directly deal with the machine but their work would be restricted to just direct the young guys and teach them to work on machines. So you would be more like a trainer. This not only gives you a rise in your package but also augments your position.

When we speak about moving to a different place, you can also relate it to learning something new from others. People in other countries may not work in the same way as we do here in US. They may be equally competent when it comes to work but they may lack something for which they need us to guide them. In exchange we not only get a fat package but also learn their way of working which may be better than ours. So you can bring their techniques that you find to be better than ours here and incorporate it in our men. However, for that you got to be flexible to move to places. So generate the courage to move out of your comfort zone and you will find things changing for you.