After over 2 months of searching for a suitable multi-family property in Nevada, I’m finally in contract!  Escrow should be short since I’ve already had the inspection and am paying cash.  I’ll be moving up there in a matter of weeks, and can finally move on with my life.

Once I close escrow, I’ll be packing my BMW with the few possessions I have and saying goodbye to California for good.  When I arrive, I’ll pick up the keys from the real estate agent and walk into a vacant, 95% finished triplex.  I’ll have all 3 empty units to myself.  During the few weeks it takes me to complete the minor repairs, I’ll have to pick one unit to call my home.

One is a tiny studio, another is a small 1 bedroom, and the last is a considerably bigger 1 bedroom.  Picking the best unit for myself means collecting less rent, so I’ll have to decide if it’s worth it.  Since I’m paying cash, I won’t have a mortgage, so regardless of which unit I occupy, I should still be cash-flow positive on this thing.  It will be a great feeling knowing that you are actually generating a cash flow from your primary residence.

I’m extremely relieved to have this deal underway.  By 2012, I’ll be 100% cut off from California and all California-based businesses.  Insurance, banking, healthcare, accountant, etc – all moving to Nevada businesses.  I know that in the grand scheme of things, one man moving his business out of California isn’t going to make a difference.  However I hope if enough people do this, it sends a message to California that what they are doing isn’t working.

I feel like I’m selling my stock in CA and buying stock in NV.  CA is falling apart, but NV is somewhat stable.  Eventually, I’d like to sell my stock in USA and go somewhere with a better outlook.  That whole discussion can be saved for another post though.

Once I get settled in Reno, I want to start traveling again.  I’d really love to do a lot of snowboarding…