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The Benefits And Best Options For Co-Working Spaces Abroad

One Unexpected Secret To Making Money Overseas...

Kathleen Peddicord by Kathleen Peddicord
Nov 08, 2018
in How to, Lifestyle
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As you make your plan for reinventing your life in a new country while creating a revenue stream to support it, you’ll need to answer big-picture questions, including…

Do you want to:

  • Move full-time… or part-time?
  • Divide your time among two or more countries… or travel continuously?
  • Work full-time… or just four hours a week?
  • Live the Digital Nomad life… or build an empire?

You’ll also need to address more practical issues to do with creating a capital budget as well as one for ongoing costs… setting up a bank account… putting in place systems for collecting money and paying bills…

And choosing the workspace that works for you.

Will you work from a home office… or perhaps in a lounge chair poolside of your new residence?

Will you rent space… or maybe invest in an office of your own?

Or will you share space?

Today’s gig economy has spawned a global industry of co-working options.

At last week’s Make Money Overseas Event, global entrepreneurs Adrian Beales and Sam Miller addressed the what-kind-of-workspace-makes-sense-for-you question based on years of personal experience building, managing, and using co-working spaces around the world.

“Working from home can be great,” Adrian explained, “but it doesn’t work for me. Home alone, I’m easily distracted.

“Plus,” Adrian continued, “I appreciate and really benefit from the social aspects of co-sharing workspace. In every country where I’ve worked, I’ve found that the communities I’ve been able to access through shared workspaces have been one of the most important and valuable parts of the experience.

“And, today,” Adrian added, “you can customize your strategy. You could work sometimes from home and sometimes in a shared environment.”

“That’s what suits me best,” Sam interjected.

Sam is a professional vlogger, making videos to help promote real estate investment opportunities across Colombia.

“I spend part of my time touring around the country on my motorcycle, shooting clips for my vlogs,” Sam explained. “Then, back home in Medellín, I work both from my apartment and from a rented desk in a shared workspace.

“When I’m hard-core into editing one of my vlogs, I need complete quiet,” Sam continued.

“But then, when I’m finished one vlogging project and creating a plan for the next one, I appreciate interaction. I want to be among others living the same kind of lifestyle I am. They help me… and I like to think that I help them, too.”

Making The Best Decision

Adrian and Sam laid out four things to consider when thinking through how a shared workspace could make sense as part of your new life making money overseas…

#1: What balance of alone time versus time as part of a community will best support both your moneymaking strategy and your personal approach to work?

#2: Will it be worth investing in office space of your own? If not (the answer is probably no for most digital nomads and expat entrepreneurs), what kind of co-working space would suit you best?

Shared workspaces today offer the options of:

  • What’s referred to as a “hot desk,” which means you use any desk available when you show up to work…
  • A fixed desk, which is a desk reserved for you so you have the same workspace every time you show up…
  • Private office, so you can have your own space but be able to step outside it to interact with your fellow shared-space workers.

#3: Would a membership in a workspace with locations around the world make sense for you… or should you instead pay daily, weekly, monthly, or yearly to use a specific space in the city where you’re based?

#4: How much community are you looking for? Some co-sharing spaces offer events and networking opportunities intended to help you interact with your fellow workers.

Budget, of course, is another factor.

“On average,” Adrian explained, “you can expect to spend the local equivalent of two cups of coffee for a day’s use of a co-workspace.”

A Co-Workspace That Fits You

However, not all co-workspaces are created equal. Adrian and Sam introduced the group to four shared-space options that give a good idea of the choices available:

#1: WeWork, Global

WeWork offers a global network of facilities in great locations around the world. The settings are professional and allow for privacy. Prices are low, and terms of use are flexible.

#2: Regus, Global

Regus facilities are in great buildings and great locations. They qualify as affordable high-end.

As part of the Regus network, you have access to extensive global connections and can opt to include (and pay for) admin support… or not.

#3: Selina, Latin America

Selina is a Latin America-specific option and is as much about community and lifestyle as about work productivity. Selina offers the option of on-site accommodation and provides travel and wellness support services.

#4: Hudbud, Bali

Hudbud has been named among the top 10 co-working spaces in the world by Forbes and others. This is one of the highest-end options and, like Selina, offers on-site accommodation. Hudbud also sponsors retreats and special events for members.

Kathleen Peddicord

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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