Just got a new job! Woohoo!!

[MichaelW]

Hi Guys,

As some might know, I've been working in the Steel industry for a while now as a Supply Chain Manager. Well, recently a headhunter cold-called me and put me forward for a similar role in the mining industry working for a Tier 2 company.

Well, I was successful! I'm now going to be heading up Supply Chain for this company, reporting directly to the GM - Procurement.

It is a $40K immediate pay increase coupled with another $40K-$50K STIP bonus increase on top if I hit my targets. Last year all managers were paid STIP in full at this company.

Absolutely stoked. As the head of Supply Chain I will have full strategic accountability which I prefer. I will be able to set the agenda. Its also great to get into mining and out of manufacturing at the moment. This role could be a real career builder.

A lot of things are finally coming together for us. The salary increases here coupled with the rental income increases from letting all three of my Mona Vale units next year will see a circa $200K pa increase in our household income. We're making do at the moment, but next year should see some of the delayed gratification turn into immediate gratification. I might even get to move out of this caravan I've been living in.

Its been a rough ride, but perserverance pays off. Lets all raise a cup to 2013 shall we!! I'm off to buy a bottle of aged single malt to celebrate...

Cheers,
Michael

 

[chilliblue]

Congratulations....

 

[depreciator]

I might even get to move out of this caravan I've been living in.

Or at least add a nice annex.

Well done, Michael.

 

[MichaelW]

Congratulations....

Thanks Chilli Blue...

 

[MichaelW]

Or at least add a nice annex.

Well done, Michael.

Hahaha!!

Yes, a nice annex would do nicely. But I think I might just move out of the van into a unit while we build the house on that site. It should go up pretty quickly next year once we get everything in place to get started.

Rolf is helping do my construction loan refinance on the Mona Vale build now too. He thinks he has a solution that will get it at resi rates and an 80% LVR. That will allow me to refinance my current LOCs off my Narrabeen house across to the Mona Vale units leaving only a tiny mortgage on Narrabeen. We plan on selling it early in the new year as its CG Tax free as a former PPOR. Should net a nice big amount of cash to put towards the new house build in Brisbane.

Fast forward to the end of 2013 we should be CF neutral on our three units in MV with a paid off PPOR in Brisbane and some nice big salaries between Kay and I to pay down debts and turn a lot more positive CF sooner. Add rental increases and retirement in 10 years is a genuine possibility.

*edit* I'm going to need a depreciation schedule for the three units in Mona Vale soon too. I'll PM or email you to kick it off shortly. *endedit*

Thanks Scott,
Michael

 

[el caballo]

I love it when a plan comes together !

Cheers,
Greg

 

[kathryn d]

congrats !!

 

[redwing]

Happy Days Michael

Great news

Gotta get back some of those GFC loses somehow

 

[geoffw]

Well done Michael. It sounds extremely promising. That Mona Vale development has been a long hard slog- you deserve the rewards.

 

[MsAli]

Congratulations! Incredible... perseverance pays off!

 

[knightm]

congrats. good things come to those who get out there and try some stuff.

 

[Cherry Pro]

Congratulations Michael ... fantastic to read about your new job. Here's to a brilliant 2013 for you and your family.

 

[westminster]

Hahaha!!

Yes, a nice annex would do nicely. But I think I might just move out of the van into a unit while we build the house on that site. It should go up pretty quickly next year once we get everything in place to get started.

Rolf is helping do my construction loan refinance on the Mona Vale build now too. He thinks he has a solution that will get it at resi rates and an 80% LVR. That will allow me to refinance my current LOCs off my Narrabeen house across to the Mona Vale units leaving only a tiny mortgage on Narrabeen. We plan on selling it early in the new year as its CG Tax free as a former PPOR. Should net a nice big amount of cash to put towards the new house build in Brisbane.

Fast forward to the end of 2013 we should be CF neutral on our three units in MV with a paid off PPOR in Brisbane and some nice big salaries between Kay and I to pay down debts and turn a lot more positive CF sooner. Add rental increases and retirement in 10 years is a genuine possibility.

*edit* I'm going to need a depreciation schedule for the three units in Mona Vale soon too. I'll PM or email you to kick it off shortly. *endedit*

Thanks Scott,
Michael

It does sound like 2013 will be a great year. I've been reading your thread with interest going into my development.
Congrats on the new job!

 

[Jonril]

Small wins are great, big wins are better!!, congrats on the boost to the cash flow!

I've skimmed your Mona Vale thread every now and then, it has been very informative Thank you for sharing.

 

[The Fence]

Congrats Michael, just goes to show what people can believe and then realise they can do..!!
Good on Ya !!

 

[K_Raheja]

congrats

 

[MichaelW]

Thanks everyone! The support here is always amazing...

It has been a hard slog for the last 12 months. Worse than I've made out, but that's life. I might post some more detail when my heads in the right space, but not yet. At least 2013 is shaping up to be brilliant.

We're just finalising the development in Mona Vale. Should be done within 10 working days then tennants in. Its a race to get them in before Christmas now, but we'll see how we go. Either way, they'll be in soon enough.

I forgot to mention that the mining company is a gold company. One of my pet loves to boot, and now I'll be working for them doing something I love and being well paid for it. Happy days.

Cheers,
Michael

 

[lizzie]

Happy days indeed! Well done and bravo ... as we know, steel was becoming a very depressing industry to work in.

Is it a local job - FIFO - or do you have to move again?

 

[MichaelW]

Happy days indeed! Well done and bravo ... as we know, steel was becoming a very depressing industry to work in.

Is it a local job - FIFO - or do you have to move again?

Hi Lizzie,

I thought of you when I posted my new job...

Its local, based in Brisbane at Eight Mile Plains. That's only 20mins out of Brisbane on the M3 so an easy commute for me. There will be a fair bit of travel involved though I think. They've got mine operations all through the region and I'll need to get acquainted with them and my purchasing officers in each site that will report to me now. Looking forward to a bit of travel again to be honest. They're in some beautiful parts of the world like PNG. The diving in New Ireland is supposed to be world class!

Yes, steel is still a very depressing business to be in. It will be nice to be in a company that isn't cash constrained and is on the up and up.

Thanks,
Michael

 

[lizzie]

I thought of you when I posted my new job...

shucks - thanks - we're in coal now ... which was interesting as hubby was specialised and skilled in pure steel rather than your 'take anywhere" abilities.

Fortunately he had other business skills he managed to use - but having to learn an entire new product.