Taking Smart Risks: Financing, Flipping, and Investing In Yourself

What is up, guys? I cannot wait to introduce you to my friend, Marcy Serpis. You are gonna love her just like I do. She is a real estate investor and mentor who has completed more than $50,000,000 worth of flip transactions in just six years. She didn't have inherited properties or wealthy connections, but she built her success through determination, strategic acquisitions, and a repeatable system for luxury renovations. You see why I love her?

Specializing in high end residential flips in Laguna Beach and Coastal Orange County, Marcy focuses on transforming properties into high value assets. She has also expanded into income producing student housing that she has made up the term luxury student housing, which I I love her for also, near Tulane and Loyola Universities in New Orleans.

Today, Marcy is passionate about mentoring others, especially women, teaching them the systems behind successful house flipping from deal analysis to negotiations to renovation management and portfolio growth. Here's Marcy Serkis. Hello, everyone, and welcome to the Power Up Your Life podcast powered by GoBundance Women. I'm Mandy McAllister.

And I'm Kelly Resendez.

And today, we have one of my real estate investing soul sisters, Marcy Surface. Hi, Marcy.

Hi. So nice to be here.

Girlfriend, I it's been a while coming. I'm so excited to, you know, get your brilliance into the ears of our listeners. But before we really dig in, why don't you tell us a little bit about who you are and what it is that you do? Okay. Great. So I am Marcy Surface.

I am the founder of Veranda Homes, which is a luxury home builder. So I flip luxury properties in Laguna Beach, California. And then we also have luxury student rentals, which is something that I completely made up, and it's super fun. So we do luxury student rentals, student housing, currently at Tulane University in New Orleans, and we're expanding across the country.

That's I love everything about it. And we had an opportunity to work on small multi stuff back in the day, and I'm completely, you know, stealing your homework on the, luxury student rental stuff. So thank you for all of your wisdom.

Good. Wonderful. Yes. It's really, really fun. So yeah. And women love love that because I think we all can relate. You know?

Oh, absolutely. It's just sending kids to school and and making sure that they've got a a good, clean, safe place to live. Totally totally love everything about it.

Well, you know, one thing I admire about you is that you take really, like, metered appropriate risk, and you find something, a need that needs to be filled, and you freaking fill it. You don't look for some other person to fill it, but you just go make it happen. That that is one of the things that I I admire about you so much.

But I I'm certain that as you're trying to come up with the next right thing to do, that sometimes it's unclear what the next right step is. So I I'm wondering if you could let me in on and our listeners in on when you when you can't find clarity, what do you do? What steps do you take to find clarity?

Well, I think that sometimes, for for those of us that are, like, big problem solvers, like, when we see an issue, like, we wanna just attack it. You know? My nickname's the fixer. So, like, like, kinda like mafia style. Like, if you ever get in trouble, you should call me because I'm the fixer. Like, I will come and fix anything.

But sometimes, I think when something's, like, really difficult or it's not just kind of rolling along or or that type of thing, sometimes we need to take a step back and say, okay. What parts of this can I change or should I change? Or if something is, like, a really big challenge, like, maybe maybe you don't have to go solve it. So so that's one thing that I've sort of learned as I'm getting a little older. Like, you know, you don't have to pick the hardest, things to tackle necessarily.

But when I am you know, as now I've learned so much, like, I operate in probably the most difficult city in California to do construction, which is Laguna Beach. Famously awful with the city and permitting and, historic and all the different pieces and parts. So, at some point, after doing it for six years and all of that, sometimes you take a step back and go, okay.

You know, e even after being at, the conference we were just all at together, listening to other women doing these amazing other things in real estate, sometimes maybe you take a step back and think, okay. Now that I am equipped with all of this experience and I'm and I you know, it's it's there's a reason that I'm that I'm good at it and that I, get all the great listings that come my way because it's there's a huge barrier to entry. Right? Nobody wants to do flips in Laguna Beach. So I I don't have much competition because it's so hard.

But as I'm getting a little smarter, I think, in my old age, I think that, picking easier markets and picking easier things to do is kind of what I'm really thinking about at this point. So where can you build easier? Now that I'm I am great at construction. Right? And I'm great at raising money for construction and all that. So now where can I take those skills that I have and move into into other things that are possibly easier to execute?

No. That's awesome. One thing that I probably a lot of people get into a situation, I'm guessing, you do in in your business is when all of a sudden you've depleted capital. And maybe you've got a lot of projects going on and your decision becomes, do I borrow? How do you not drop into scarcity when you're having to look forward, you know, in the future?

Yeah. So this business is really hard. You have to really have a mindset that's purposeful, like, every single day that you wake up because, you know, sometimes a house doesn't sell for a while. Right? So you always have to have, like, that pivot, you know, idea. And so you always have to have, like, your plan a, plan b, plan c kind of a thing.

Also, this is a really expensive business to be in because you're still you know, typically, you're you're still paying that mortgage and you're, you know, all of that. Sometimes you have to refi a a bridge loan, and so that that can all really add to the scarcity and and mainly really add to the fear. Right? And fear is where we live when we make, like, the worst decisions.

Mhmm. So trying to, just make sure that you plan for that when you're underwriting. Like, this might not sell for six to nine months. Right? And so don't buy the house if you can't afford to hold it for that long in an in you know, especially in these expensive markets. So if it doesn't if the numbers don't work, then don't make it work just because you love the you know, we we know not to fall in love with the real estate. Right? We you you need to fall in love with the numbers, not the real estate. But Say that one more time. Say that one more time. In love with the numbers, not the real estate. Okay. Thank you. Because we get so yeah. Is am I talking to you, Kelly? Because we get so attached, and there's so Oh, right there. I I don't I don't fall in love with either. I just Yeah. Have to, like, invest in things that I don't look at deeply enough. Yeah.

Yeah. But, but then, you know, you do get to a point regardless of whether a deal pencils and does well or whatever. No matter what, everyone, if you are scaling in this business and doing this full time, everyone will run out of money. Right? I mean, generally, you will run out of money because you need if you wanna keep expanding.

So, I think it's important to be open to understanding different ways of financing and different, partnerships that you can have or, you know, private money loans or or j or joint ventures or, you know, I have a fund. So I launched a fund in 2024 for this, and I've raised, you know, over $10,000,000 for that fund. So I think it's important to, to know what all of your financing options are because you will need more money as you do this business, and you don't wanna only be borrowing or using really expensive money. Like, you need to make sure that you're very well versed in all the types of money that are available.

And there are so many like, there are there's big trouble you can get in if you raise money the wrong way. So Oh, yeah. Disclaimer, make sure you're going to, to learn from people who know what they're doing in terms of raising money because you can do it really wrong. And Yeah. SEC jail looks just like regular jail is something I've spent on. Mentors are teaching people to raise it wrong. Well, absolutely. I've I've been part of stuff like that, and it it gives me the willy.

So, you know, good on you for for doing it the right way, Marcy. You know, I I also think staying in this fear, staying in this, you know, women investor lane, you know, we've both had an opportunity to mentor within the the real estate space for women. And I I think that more than our male counterparts, women don't take that first step as quickly. Right? That analysis paralysis, that fear that kinda gets them to to move forward into this.

And the entire reason that Beth Azore puts on that women's summit is to show that female, investors in commercial real estate exist. Right? So I I'm curious with all of the, entries, all of the paths that you've seen through mentor the people you mentor and your own, you know, what are some things that help people get over themselves to get into that first rep?

Well, I think, that number one, I believe this, and this is what I have done. So I started in this business when I was 50. I pay for speed. So I went I I have a I had a lot of great mentors that I paid for. So I paid for mentorship programs. I paid to be in the rooms. You know, like, you know, I'm joining GoBundance. Like, I'm doing you know, you do those things to get around people other people because that's really important to help you with your experience because you can bring a problem to people that have already solved that problem. Right?

I am I am smart enough, and and many people are smart enough to figure all of this out by themselves, but why would you do that? You know, you should just literally pay for speed. You should you should invest in yourself so that you can understand those things more quickly. And that, I think, is what gets you over the hump of being you know, when you when you know your numbers and when you have a mentor that knows your numbers and you that you can run something by them, that's when you feel more confident to get into action.

And that's when you can go you know, I have I have told so many of my students that they'll tell you. I'm like, I'm so sorry to ruin your day to day, but, no, you're not buying that. Like, that's I know you really want to, and they're super cool, and they're so fun. But no. So, I'm like I'm like mean aunt Marcy. That's what one of them calls me.

So, I think that the if you if you surround the way to get really into action is to really, to invest in yourself so that you understand the math. That's the most important part of this business is the numbers. It just is. That you and you can lose so much so easily, so quickly if you just miss one thing.

And I can't tell you how many people don't know how to underwrite correctly either, And they're just learning, like, all these crazy, you know, you know, trying to learn this on YouTube is not going to work. Like, you really need somebody that's that's really, really understands the numbers. And, you know, you can also learn from their mistakes. Right? Because I've made a million mistakes. So if I can help somebody else avoid those mistakes, that's that's the the thing that I would recommend is that people get into the right rooms.

Yeah. Oh my goodness. There's so many things that you've said, Marcy, that I'm like, oh, I wish we had more time to talk about that. Just, you know, it resonated when you said you're a fixer. So I am too, but I do mind in dating. I'm a fixer and a flipper over there for anybody interested. Yes.

And when you think about really being that fixer, right, it is a lot of giving. How do you make sure that you really are in that place where you can also receive? Because when people are always looking to you and and I know that you said that you you do a lot in the mentorship space in getting information from other people, but how do you make sure that you take care of you in this rapid pace business that you found yourself in?

Well, for me personally so some not everyone's like this, but I actually get a lot of, happiness by being around other women in business. So I for me, like, that recharges my battery. I know it's tiring for for a lot of people, but, like, going to the events and spending time with with people like you is what really, like, fills me back up so that I feel like I can go out and then give more.

Because it is you you can feel you can get really depleted, especially after, like, you know, a long day on, you know, construction sites and then, you know, financing and then a stop work order, and then I got a speeding ticket yesterday. Like, you name it. Like, all the things happen, like, in a row, and then you've got and then you're teaching a class at 04:00, and everybody's, like, you know, needs needs a lot from you. So you need you do need to make sure that you are basically refilling yourself in whatever that looks like.

For a lot of people, that's not going to an an event or being around people. But for me, that's one of the main things that I do, and it's the most fun that I have by far. I would imagine it's exhausting with all the mansplaining

you get from contractors too that are doing some work.

So Not anymore.

Not anymore. Not anymore. Who you are? They're like, oh, no. Not gonna go there. Yeah. It's really funny. Earthy.

I used I used to get a lot in the beginning, which one of the gals that's, I have another class that's launching, that's kicking off in April. And one of my new students was is just starting to flip in Dallas, and she said, all of her friends ask her, like, why why would you flip? Why why are you working? Why would you flip? You know? So I used to get that a lot in the very beginning. They would say, why are you working, or why are you doing such a hard job? Like, why are you being why are you being a developer? You're like, would they ever ask a man that? And I would just look at them like, I don't know. Why why why are you asking me that? You're so weird. You know?

Like, so so so there's that, but I did have, I did I do have an amazing crew that have been with me. So my crew is full time. They're awesome. And I've got three GCs on my crew. Like, everybody's amazing, and we've been together for about five years now.

And, but in the beginning, I you know, there are certain things in construction that are important to know, like, the order of things. Right? Like, you need to know if the tile or the drywall go first or, you know, the things like that. So I would just wanna know. So I would just show up, and I would just say, okay, guys. It's time for Marcy's stupid question, you know, of the day or whatever. And then a bunch of them would kinda run. Like, they would go they would just, like, scatter. You know? And then one would stand there and be like, okay. What? And I'd say, you know, I'd say, like, literally, okay. Well, do they tie does the tile go on the shower walls first or the floor? And, like, why? Like, let's talk about that.

So, you know, you if you're gonna do this, like, this is a very technical, important job, building houses, building homes for people and making sure they're safe, making sure that all the electrical is fine and nothing's gonna catch on fire and nothing's going to leak and all the things. Like, it's really, really important because you're creating homes for people. For oh, you're creating homes for families. So you actually need to get really good at that. You right? You need to actually be a developer. You're not just on HGTV, just running around flipping houses. No. Because it's fun. You're actually you know, you really need to understand that stuff.

But, yeah, there was a little mansplaining before, but now I kinda know I probably know more than a lot of men around in my That's awesome. I I love so much about this. You know? It's but I think one lesson in there is if you are willing to ask the question

and not be nervous to come off as, quote, unquote, stupid, that's where the real learning happens. Like, that that is disarming, and that is where real learning happens. The Power Up Your Life podcast is powered by GoFund and Swimming. I could tell you stuff about it, or you could hear from some of our members. Here you go. GoBundance

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As the woman who came up with, luxury student rentals, I know that you believe in, many things that are unconventional. I think also the nature of being a flipper or, you know, an entrepreneur in general is an unconventional thing.

What is, one or two unconventional ideas that you believe to be true that other people might disagree with?

Oh my gosh. Let's see. That other people might disagree with. Well, I believe but, again, this is just me, but I believe that 50 is the new, like, 35. So I feel like anyone should be starting a business or doing whatever they want when they're 50 or 55 or 60 or whatever, because we are all super young and hot still. So I'm just saying that because it's true and smart. Yep.

So and the thing is, like, we just know so much more now. You know? So I'm 56, and I can hold a candle to anybody doing anything right now still. I will get old, and then you guys can tell me that I'm old, but I'm not old yet. Nah. No.

So I think that, I think that making sure that women don't ever feel like they're too old or that they're not experienced in something and that they can't go learn it. Yeah. Like, that's that's definitely, important. And, also, I think you're more investable at that. You know, when you're a little bit older and wiser, you know, all of my first, private money lenders and partners were just friends that I knew, like, in the community. You know? So there's there's that too. So you have that going for you too.

So I think it's I think it's you know, sometimes people will say, like, don't ever ask friends and family or don't ever ask. But I think sometimes those are the first people that are gonna invest in you because they believe in you. So I think you should when you are starting in any new business, I think you should tell everybody what you're doing. Never never hide that because it's important. You just never know, you know, who's gonna step up and wanna work with you. Yeah. And what a incredible point because we we

you know, some people feel like they're too old to start something. They're you know, how am I gonna learn something new? And you're the absolute epitome of a success story. You know, you started at 50. You're super successful, and now you're teaching other people to do this.

So for our listeners that want to, you know, have real estate in their portfolio, but they don't want to know about the drywall or the tile or the or the, you know, sales terms or any of those other things, how does somebody like, what options do you see are great for them to be a part of this? And why is the fun?

Yeah. So I just actually had breakfast with a girlfriend of mine that was a colleague, when I used to be a real a real estate agent. And she's just wondering like, she wants to be involved, but very passively. So there's really you know, there and and there are things that I have to say that that we know, you know, generally, you know, so well, but the majority of people just don't know. And I would say for sure, a lot of women don't know.

But things like put your retirement funds into a self directed IRA, number one. Mhmm. First step. Then use that self directed I IRA, not on your own projects. Not allowed. Don't do that. But use the that money to grow tax free or tax deferred tax free, in other people's projects. Right? So you should any you know, a lot of operators like myself, we raise money from other people, both I have a debt fund and a regular, a regular investment fund, so you can always invest your money. And, you know, those are you'll get, like, between 1020% returns oftentimes. So that's a great way to get involved in real estate, but not have to actually do do the hard work for it.

And then just, you know, understanding, the different you know, getting you know, you these are things that you can kinda, you know, go down the rabbit hole on, which are fun, is go on YouTube and watch all the information about, investing in short term rentals and the tax benefits, you know, for that. That's one particular asset class that has these tax benefits. Using it you know, using a self directed IRA. Like, those types of things say can save you so much money in taxes that allows you to compound your money, you know, as we get older and want to save more versus losing more.

So those things are really, really important. And I think I think even more important for women to understand because I think that a lot of times we didn't get some of that education.

Ugh. It's not what you make. It's what you keep. Yes. That's what it is. Enough, we have had both Amanda Hahn, real estate accounting expert, and Karen Hall, owner of You Direct IRA, Self Directed IRA on the podcast, who are also self supporting I just referred Karen this morning to in that meeting. I gave her her phone. Beautiful. I love everything about that. Girls gotta look out for girls. You know? Yes. Yes.

So I wanna make a little left hand turn here. Like, you you didn't come from a ton of inherited wealth and and you've, you know, really created this incredible life for yourself and for your family, but all the while, you're bringing up these kids. Right?

Like, one thing that's kind of a a common thread throughout GoBundance Women is that we you know, as we pursue great wealth and 9 figure businesses, you know, how do you bring your kids along and teach them what's possible, but also not spoil them? Are there a couple of strategies or, you know, happy accidents or things that you've done to raise really well rounded kids?

Well, so I will say at first, when I first started, like, listening to different I joining mentorships and podcasts and whatever, it was during COVID. So my kids would walk by me, and I'd be at the table, like, listening to something, and my kids would be like, mom's getting motivated again. You know? So the they'd be like, you're so motivated. Are you motivated enough? Well, then they saw that I started, like, actually, like, jamming, like, you know? But by the way, I did work, like, seven days a week. Now my kids were a little older, so they were in college and high school.

But, now I think that they they k. So number one, this is not an easy business by any doing being the actual operator is not easy. Right? It's a full full contact sport, whatever they call it. It's like it's a thing. But I have three sons, so they are now 24, 22, and 19. And they have seen me build this business and be basically a developer, which is really cool. I did Tulane because two of my boys were at Tulane, so they got to actually see it in you know, we would buy these houses that were falling apart and completely redo them, and it's been really, really fun. So they were they were able to go along for that ride.

But, my middle son now is actually at NYU getting his master's in real estate development. So and they both they both live in New York City, but he's getting his master's in real estate development. So they're definitely you know, they've got I think that that at least he has the bug to get into this business. But I think that, you know, as moms, I think it's for me personally, my mom was always work you know, always worked. She was a a very busy executive. I think that it's important for me. It's been important to model working hard to my for my kids. Now I stayed home for a really long time. I stayed home for fifteen years, but then got back into business after that.

So, yeah, I think, it's definitely, more you know, for some people that are doing this with little kids, it's a balancing act, obviously. You know, you probably need to have you know, you need to figure out when it is that you're going by, you know, construction sites or or when it is that you're going to events. Again, maybe it's time when your kids are smaller. Maybe you do more passive investing. And then if you really you know, if this or you do, like, the slow flip or whatever they call it where people are doing, like, one a year, which I've never I've never done, sadly. I dream about it sometimes. I do four very slow, Marcy. Yeah. I do four to five at a time, so that's what we're doing here.

But that's, again, that's because my kids are older. Right? So if you have little kids, you know, you'll you know, like, what your what your pacing is. But you definitely can you can definitely do this, you know, especially if you find, a great partner. And you don't have to have that partner for every project, by the way. You can have different partners for different projects, which is also something to remember. So and I would actually advise maybe not maybe as you get started, you know, try different people for different things.

Great. Absolutely amazing. Well, I wish we could talk all day, honestly. Right. There's just so many things that we can connect on. And so, you know, the one thing that I love that you said the most is that 50 is basically a magical time, and I'm right there. It's not even 40. It's 35. Yep.

I I absolutely you know, that resonated. And just your just the the story is so inspiring that you went into something new, and now you're in mastery already. It's six years in. Right? Because you've you've really just taken the risk and not allowed fear to hold you back and been creative in in getting those financing vehicles or or other things, you know, put into place.

Mandy, what about you?

I just love Marcy so much. I I learn and think differently every time we talk.

But one thing that you said that I say a whole lot to is that you gotta know your numbers. And when you got a problem, the easiest way to deal with the problem is to put truth to the problem, and there's nothing more truthful than a number. So you gotta fall in love with that spreadsheet. So Yes.

Marcy, one thing that we love to do in GoBundance Women and here on the Power of Your Life podcast is to, you know, understand what what's an introduction or a resource that would change the ballgame for you because we wanna serve you because you've served us. What's that introduction or resource?

Oh my goodness. Okay. An introduction or resource. Let's see. Well, I can't even think of what's an example? Let's see. I guess being on you know, being out there and talking more about, about what I do, what we do.

We're gonna be expanding this year. We're expanding our student housing portfolio. So if anyone's interested in investing in student housing, they can reach out to me. So if you have any people that are interested in investing, we're gonna do that, and that's really fun.

Again, it's an it's it's all women around this age, and we all totally get it because we've all done the student housing thing in one way or another, and it's really, really it's really fun. We do field trips. So we did New Orleans last year. Total blast.

So, so so I guess, you know, if anyone wants to reach out to me, I'm at, mercysurface.com, and you can find me there. But, yeah, aside from that, it's all good. It. So marcysurface.com

will Yeah. I do. Field trips. I I love everything about it. I yes. Awesome. Well, Marcy, thank you so much for joining us today, and thank you to all of our listeners, and we will see you on the next episode of Power Up Your Life. Thanks for having me. Bye, ladies. Bye. Bye, ma'am.

Thanks for joining us today on the Power Up Your Life podcast. If you got value from today's episode, make sure that you like and subscribe and send this episode to someone who needs to hear some wins like this. If you need to power up your business, head over to Power Up Your Life Now, where you can see all of the resources that our team has to power up your business. We'll see you on the next episode.