Hello, my friends. Welcome to another episode of Ask Marco. Well, I am back in the office. I've been doing a lot of traveling this year and quite a bit, actually in the last couple of months, these live events are wrapping up all over the place. Mastermind groups, real estate related events and whatnot. So I'm actually doing a lot more traveling and I've been kind of buried over the last couple of weeks. So I apologize for not being available to put out some new episodes here, but I'm getting back on track. So just bear with me be patient. I will certainly get some new episodes put out and I've got some new guests queued up here for the weeks to come.

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Anyway for today, I am focusing on one specific question that I got from Lee. And this is interesting. I'm going to title this episode, "Help my wife and I disagree about what to do with our California property. "

Now it doesn't have to be a California property to apply to your situation. This could literally be anywhere in the country. It's the concept and the principles in the question at hand, that is what I want to focus on here. So let me start reading Lee's email to me and I'll break it all down for you. So hopefully you'll walk away with some ideas, principles, and a way to think about how to make the best use of your situation, especially when you are sitting on equity. So Lee writes and he says, hi, I am a new subscriber to your podcast, and I love all the info and education. You're welcome. I walk every morning with my dog for an hour while listening to your podcast, I guess you are binge listening and going back to episode one, I have to imagine. I have a question about where to go from here and how to get started in real estate investing.

I currently live in Simi valley, California, but I lost my business of 36 years due to the shutdown. Very sorry to hear that I'm using this opportunity to take on a new career in Arizona, where we own vacation property. All right. So obviously you have a plan moving forward here, as far as where you want to live and what you might want to do, and very sorry to hear about your business shut down. So Lee goes on to say, my question is about the California home. We pay $265,000 for it. 25 years ago. It is now worth about $1 million plus. My wife and I disagree about what to do with the property. I want to sell, pay off our vacation home and start buying multiple investment properties. In other states. My wife wants to keep it and rent it out for about $4,100 per month for a couple of years before we sell it, I can give you more details, but I want to keep it simple in consideration of your time. I would appreciate any advice you could offer. Thanks in advance.

Well, Lee, thanks for the question. It's a good question. First of all, for those who don't know where Simi valley is located, it is north of Santa Monica, California, which is Northwest of downtown Los Angeles. So it's probably a couple of hour drive from there. The semi valley market that Metro area has been hot, much like most parts of the country. And so I bring this up because it's a variable, an element or a fact that you need to consider making your decision. So when you look at the metropolitan statistical area for Simi valley, which is made up of Oxnard and Thousand Oaks, we've seen over the last probably seven years, very strong appreciation, especially in the years of 2012 to 2014. A lot of it was double digit rates of appreciation, but it's been coming down ever since.

And so the inflation adjusted annual home price appr...