Distressed to Success: Conversations with Community Transformation Leaders

Brian Seidensticker
  • 5.0 (7)
  • Entrepreneurship

Distressed to Success is a podcast that discovers how savvy investors and entrepreneurs are profitably transforming underserved communities through strategic investment and innovative business models. Host Brian Seidensticker, Co-Founder of Last Best Partners, interviews local developers, business leaders, entrepreneurs, and investment professionals who have successfully brought private capital into distressed areas while generating sustainable returns. From Low Income Housing Tax Credits to creative financing solutions, each episode uncovers actionable strategies for identifying investment opportunities that deliver both financial returns and meaningful community revitalization. Learn from leaders who have transformed cities like Detroit, Cleveland, and Memphis through profitable ventures that create lasting community improvement. Whether you're a high-net-worth investor, local developer, or community development professional, discover how to turn distressed assets into thriving neighborhoods while building sustainable businesses that benefit both your portfolio and your community.

  1. 3d ago

    Managing for Profit & Purpose: Michael Poon of Redleaf Property Solutions on Caring for Communities

    In this episode of Distressed to Success, Brian speaks with Michael Poon, a property investor-manager based in Hamilton, Ontario.  Michael walks us through his unlikely journey from anthropology researcher to real-estate entrepreneur, showing how he turned a secondary market often overlooked by big-name investors into a thriving, ethical business.  Along the way, he discovered that real estate is rarely the passive income stream it’s made out to be, and that the key to true profitability lies in doing more of what property managers should do and less of what they shouldn’t.  Together, Brian and Michael dig into the hard-won lessons of managing rental buildings in “rough” neighborhoods: the importance of setting clear expectations, balancing empathy with enforcement, and always putting ethics at the forefront.  Michael shares eye-opening stories, from negotiating voluntary cash-for-keys agreements that boosted building value without ugly evictions, to crafting compassionate payment plans for tenants in financial distress, that illustrate how treating people as partners, rather than problems, leads to lower vacancy, higher rents, and better returns.  Timestamps Michael’s real estate journey & path to property management – 01:49  Key pain points in property management & the importance of ethics & empathy – 03:34  Unethical eviction tactics & their legal consequences – 11:05  Ethical tenant relocation via cash-for-keys negotiations – 14:28  Handling tenant non-payment: payment plans & emergency housing fund – 21:08 Connect with Michael  Michael’s LinkedIn:https://www.linkedin.com/in/michael-poon-50057919b/ Website:https://redleafpropertysolutions.com/ Instagram: https://www.instagram.com/redleaf_propertysolutions Facebook: https://www.facebook.com/michaelpoonhingkin Book mentioned The Happiness Advantage: How a Positive Brain Fuels Success in Work and Life by Shawn Achor: https://www.amazon.com.br/Happiness-Advantage-Positive-Brain-Success/dp/0307591557 Get in touch with Brian  Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Book mentioned The Alchemist by Paulo Coelho:https://www.amazon.com/Alchemist-Spiritual-Self-Discovery-Novel_Get-Captivating/dp/0062315005 Subscribe to follow the show!

    Managing for Profit & Purpose: Michael Poon of Redleaf Property Solutions on Caring for Communities

  2. Sep 2

    Synecdoche’s Lisa Sauve on the Power of Architectural Equity and Community Revitalization

    In this episode of Distressed to Success, Brian speaks with Lisa Sauve, principal and co-founder at Synecdoche, a firm pioneering the concept of “architectural equity.”  Lisa takes us back to her early days launching Synecdoche in 2009, right out of architecture school when the market was bleak, and explains how she and her partner taught themselves to form an LLC, win projects on Craigslist, and turn an undergrad side hustle into a thriving design practice.  Along the way, she shares how Synecdoche carved out a niche working on adaptive-reuse commercial spaces, hospitality venues, and co-working conversions across the Midwest. Central to today’s conversation is the idea of architectural equity: trading traditional upfront fees for an ownership stake in a development project.  By aligning the incentives of architect and developer, Synecdoche ensures every design decision, from material choices to spatial layouts, maximizes long-term profitability and performance. Lisa walks us through how these arrangements are structured (flat-fee contracts converted into equity contributions), the due diligence and roles-and-responsibilities frameworks they use, and the importance of clear communication to avoid scope creep.  She also reflects on the challenges of tracking sweat equity, managing capital calls when budgets shift, and the patience required to see returns once a project reaches stabilization.  To bring the theory to life, Lisa highlights two recent Synecdoche ventures: Umbo, a 700-square-foot oyster-shell–inspired restaurant in Traverse City that doubled as a prep kitchen and Airbnb, and Bamboo Co-Working in Grand Rapids, where a former art school was transformed into five stories of flexible workspace. Timestamps Entrepreneurial journey and founding of Synectic – 00:44  Types, scale, and “sweet spot” projects (hospitality, retail, coworking) – 02:19  Definition and benefits of Architectural Equity – 09:02  Structuring architectural services as equity investments – 19:08  Common challenges and lessons in equity-based partnerships – 33:25 Get in touch with Lisa Company’s LinkedIn:https://www.linkedin.com/in/lisauve/ Website:https://www.synecdoche.design/ Email: lisa@synecdoche.design Book mentioned Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life:https://a.co/d/02hphDdH Get in touch with the host Brian Seidensticker  Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Book mentioned Richard Scarry's Busy, Busy Town:https://a.co/d/0aReJzZ6 Subscribe to follow the show! Chapters (00:00:00) - Bootstrapping In The World of Design(00:01:04) - Distress to Success: Architectural Equity(00:01:46) - How to Start a Firm with a Bootstrapper(00:03:04) - What is the sweet spot for synecdoche?(00:05:30) - Architectural Equity Group(00:08:06) - Do Architect Fees Matter on a Development Project?(00:14:59) - Does an Architect Play a Role in a Development?(00:17:24) - Do You Develop Your Own Buildings or Are You a Limited Partner?(00:19:39) - Do Service Companies Get a Percentage of the Project?(00:23:39) - The Role of Design in Restaurants(00:28:49) - Structural Firm's Focus on Real Estate(00:30:17) - Do You Still Do Architectural Services?(00:31:23) - Private Equity Companies(00:34:24) - WSJD: Working on a Project with Younger People(00:39:16) - Where to Start a Design Firm in the Midwest?(00:41:00) - Carve Out

    Synecdoche’s Lisa Sauve on the Power of Architectural Equity and Community Revitalization

  3. Aug 19

    Investing in Impact: Brian Abernathy & Convergent’s Blueprint for Successful Capital Raises

    In this episode of Distressed to Success, Brian speaks with Brian Abernathy, General Manager of Convergent.  Brian Abernathy walks us through his journey from youth outreach and education policy in Atlanta to leading a national fundraising consulting firm that helps communities unlock the last piece of capital needed to transform underutilized or blighted assets.  Together, they explore how Convergent’s “investment-driven” model reframes charitable giving into strategic funding partnerships, bringing individuals, corporations, foundations, and public entities together to back projects that deliver measurable social and economic returns. Brian and Brian dig into the nuts and bolts of Convergent’s work: starting with a feasibility study that validates community outcomes, aligns key stakeholders, and establishes realistic fundraising goals anywhere from $2 million to $250 million.  They highlight case studies ranging from Fort Madison, Iowa’s downtown arena and marina redevelopment to a National Guard armory-turned–Boys & Girls Club in Kentucky, public library enhancements in the Midwest, amphitheater and waterfront park projects, and arts organizations in Atlanta.  Listeners learn how Convergent tailors flat-fee campaign management, whether augmenting in-house teams or fully outsourcing solicitations, to secure that critical gap funding and keep momentum rolling. Throughout the conversation, the importance of early coalition-building among public sector leaders, philanthropic champions, and corporate partners shines through as the key to success.  Brian Abernathy shares practical insights on timing, messaging, and structuring multi-lane funding stacks so community transformation moves from vision to reality. To explore whether your next redevelopment or nonprofit capital campaign could benefit from Convergent’s approach, visit convergentnonprofit.com and schedule a complimentary feasibility discussion. Timestamps Convergent’s mission & Brian Abernathy’s background – 00:34  Bridging funding gaps in community redevelopment projects – 05:47  Nonprofit project case studies (armory retrofit, library expansion, amphitheater) – 08:12  Growth of public–private partnership initiatives nationwide – 18:23  Feasibility study process & end-to-end fundraising campaign management – 24:19 Get in touch with Brian Abernathy Company’s LinkedIn:https://www.linkedin.com/company/convergent-nonprofit-solutions/ Website: https://www.convergentnonprofit.com/ Facebook:https://www.facebook.com/ConvergentNonprofitSolutions Book mentioned Book of Proverbs:https://www.amazon.com.br/Book-Proverbs-Digital-Bible-English-ebook/dp/B0D3WMD64W Get in touch with the host Brian Seidensticker  Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Subscribe to follow the show! Chapters (00:00:00) - Nonprofits: The Dividends(00:01:05) - Distress to Success: Convergent Community Development(00:02:38) - Interviews: Brian Convergint and Fort Madison(00:05:00) - How Can We Close the Funding Gap for Communities?(00:08:56) - How Philanthropists Help Nonprofits Get to Success(00:12:08) - Do Nonprofits Need to Raise Capital?(00:14:31) - In addition to the initial capital raise, do you also help with(00:16:57) - Have You Chosen the Right Nonprofits to Support?(00:19:49) - WSJD Live: The Challenges of Funding Community Projects(00:23:21) - What to Know Before Launching a Project?(00:24:53) - In the Know: Fundraising and Feasibility Studies(00:27:42) - How Does Convergint Fund Its Projects?(00:30:01) - Distress to Success

    Investing in Impact: Brian Abernathy & Convergent’s Blueprint for Successful Capital Raises

  4. Aug 5

    Breaking Ground & Barriers: Mike Norris, Southeast Iowa RPC & David Miller, Homes for Iowa

    In this episode of Distressed to Success, Brian speaks with Mike Norris and David Miller about an inventive public‐private partnership that’s reshaping Iowa’s rural housing landscape.  Mike, Executive Director of the Southeast Iowa Regional Planning Commission, and David, Executive Director of Homes for Iowa, walk us through how a 2014 conversation with Iowa Prison Industries bloomed into a statewide nonprofit in 2019. They explain how incarcerated men nearing release receive hands-on training in carpentry, plumbing, HVAC and more, then carry those new skills back into the community. At the same time, the program delivers modular, factory-built homes, complete with cabinets, fixtures and HVAC systems, anywhere in Iowa for one flat rate.  Throughout the episode, Brian, Mike and David share milestone numbers (more than 185 homes delivered and 600 men trained to date), explain plans to expand from 24 to 40 build bays, and break down the economics behind a 1,200-square-foot home delivered for $108,000.  Listeners learn how this “win-win-win” model addresses three challenges at once: workforce development, reentry success, and affordable housing, and how interested developers, civic groups or other states can tour the site or get involved.  Timestamps David’s background and founding vision of Homes for Iowa – 00:03:25  High-level overview: training incarcerated individuals and building homes – 00:06:48  Legislative support and program history since 2014 – 00:08:15  Production setup: modular-style building process and capacity (24 homes now, expanding to ~40) – 00:19:17  Pricing model and statewide delivery details ($108K for 1,200 sq ft delivered) – 00:26:31 Get in touch with Mike Mike’s LinkedIn: https://www.linkedin.com/in/mikenorris2/ Website: https://www.seirpc.com/ Email: mnorris@seirpc.com  Book mentioned The Almanack of Naval Ravikant: https://www.amazon.com/Almanack-Naval-Ravikant-Wealth-Happiness/dp/1544514212 Previous Episode with Mike: https://podcasts.apple.com/us/podcast/empowering-economic-growth-with-mike-norris-of/id1834146906?i=1000777880233 Get in touch with David David’s LinkedIn: https://www.linkedin.com/in/davidomiller/ Website: https://www.homesforia.com/ Facebook: https://www.facebook.com/homesforia Email: davidmiller@homesforiowa.com Book mentioned The Inner Game of Tennis: https://www.amazon.com/Inner-Game-Tennis-Classic-Performance/dp/0679778314 Get in touch with Brian Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Subscribe to follow the show! Chapters (00:00:00) - Home for Iowa: From Distress to Success(00:01:03) - Distress to Success: Reinvigorating Blighted Communities(00:03:04) - Executive Director of Homes for Iowa Explains(00:06:32) - Holdens for Iowa(00:08:16) - Iowa Prison Industries Builds Homes for Inmates(00:14:06) - What is the Modular Homes Program in Iowa?(00:16:56) - How many construction crew members does the Governor's House Program have?(00:20:35) - How long does it take to complete a home?(00:21:27) - What is the production rate for modular homes?(00:22:55) - Iowa Prison Industries Construction Crew Training(00:26:10) - Home Delivery Under the Homes of Iowa Program(00:29:54) - What's the Biggest bottleneck in the Rural Homebuilding Market?(00:33:19) - How Can Your Home Build for More Than 80 Homes?(00:35:39) - Home for Iowa: Will the program be able to ship out of(00:39:02) - Want a thousand square foot home? Here you come!(00:40:25) - Homes for Iowa(00:43:24) - Favorite Part of the Podcast(00:46:55) - Books Review(00:48:22) - The Secret to the Game of Tennis(00:49:21) - Interviews with Mike Norris and David Miller

    Breaking Ground & Barriers: Mike Norris, Southeast Iowa RPC & David Miller, Homes for Iowa

  5. Jul 22

    Empowering Economic Growth with Mike Norris of Southeast Iowa Regional Planning Commission

    In this episode of Distressed to Success, Brian speaks with Mike Norris, Executive Director of the Southeast Iowa Regional Planning Commission.  Mike kicks things off by explaining how his agency operates dual roles as both a program administrator, overseeing public transit, housing trust funds, revolving loan funds, and regional transportation planning, and as a consultant under contract to help local governments with mapping, grant writing, and grant administration.  He also shares how a chance encounter with an urban planning flyer at the University of Iowa sent him down a career path less ordinary, one where he could indulge his “mile-wide, inch-deep” curiosity by dabbling in everything from economic development to public transportation and housing.  The conversation then dives into three hallmark initiatives that illustrate the Commission’s community-building toolkit. First, Mike and Brian unpack the remarkable turnaround of the Keokuk marina district, once an eyesore on the Mississippi River, by combining a Homes for Iowa modular-housing connection, public and private grants (including FEMA and state tourism funds), and technical assistance that streamlined decision-making for city leaders. Next, they trace the Commission’s unexpected role managing the Lee County Port Authority, where a strategic plan led to targeted support for workforce training, a county-wide broadband build-out using ARPA and state funds, and $54 million in private investment to install 4,000 new fiber drops.  Finally, Mike outlines the regional Housing Trust Fund, a low-barrier state program that provides forgivable and deferred loans, often paired with traditional financing or LIHTC, to bridge the financing gap on infill and adaptive-reuse projects, and a C3-structured housing development nonprofit that builds and markets quality homes in older neighborhoods to anchor local revitalization. Before wrapping up, Brian and Mike touch on Homes for Iowa, the nonprofit-led partnership with Iowa Prison Industries that trains incarcerated men to build modular homes sold across the state. Mike explains how the program not only addresses housing shortages but also pays participants a living wage, offers apprenticeships, and will soon support successful graduates through a foundation aimed at reducing recidivism.  Timestamps Overview of the Southeast Iowa Regional Planning Commission’s programs and services – 00:48  Collaboration on Keokuk Marina redevelopment with developer Michael Morfield – 06:14  Management of Lee County Port Authority and broadband expansion initiatives – 14:39  Creation and operations of the region’s Housing Trust Fund – 20:47  Overview of “Homes for Iowa” program training incarcerated individuals in construction – 36:27 Get in touch with Mike Mike’s LinkedIn: https://www.linkedin.com/in/mikenorris2/ Website: https://www.seirpc.com/ Email: mnorris@seirpc.com  Get in touch with Brian Last Best Partners' Website: https://www.lastbestpartners.com/Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Subscribe to follow the show! Chapters (00:00:00) - Building Communities: Prison Industries House(00:00:40) - Distress to Success: Reinventing Blighted Communities(00:01:16) - What Does the Southeast Iowa Regional Planning Commission Do?(00:02:46) - In the Elevator With Regional Planning(00:06:01) - Building a Community: Michael Moorefield's story(00:10:59) - Citi on the Mississippi River Marina(00:15:02) - Lee County Regional Planning Commission's role(00:21:12) - Local Housing Trust Funds in Iowa(00:24:49) - Do You Lend to a Housing Trust Fund Project?(00:31:07) - Nonprofit Housing Development(00:36:35) - This program trains previously incarcerated men to build houses in the state of(00:42:20) - Regional Planning Commission Member Brian O'Brien

    Empowering Economic Growth with Mike Norris of Southeast Iowa Regional Planning Commission

  6. Jul 8

    Building Bridges to Sobriety: Jim Boad of Group Home Accelerator on the Sober Living Model

    In this episode of Distressed to Success, Brian speaks with Jim Boad, founder of Group Home Accelerator, about how he transformed his real-estate career during the COVID downturn by converting distressed rental homes into structured sober living residences. Jim recounts his journey from fix-and-flip investor to operator of 14 active sober living homes in a small city of just 11,000 people. He explains the sober living model, licensing beds rather than leasing whole houses, placing two residents per bedroom to build peer accountability, and surrounding participants with rules and support that bridge the gap between inpatient rehab and independent living.  Jim also dives into the key referral channels (inpatient treatment centers, reentry programs through the Department of Corrections), funding sources (opioid-assistance grants, continuum-of-care dollars, private pay), and the flexible lengths of stay (90-120 days on average, but often much longer).  Brian and Jim go on to unpack the powerful economics behind this approach: a five-bedroom home that once netted only $250 per month now generates $8,500 in gross revenue and about $4,200 in net cash flow after mortgage, utilities, and upkeep.  They discuss the importance of genuine care and strict enforcement of house rules, removing residents quickly when they relapse, to maintain both client outcomes and property performance.  Listeners will learn about the operational systems Group Home Accelerator offers, from market analysis and property sourcing to intake processes, pop-buy inspections, CRM tracking down to the bed level, and growth strategies for scaling across multiple homes.  If you’re curious how you can use real estate to foster recovery, drive social impact, and build a recession-resilient, profitable business, visit jimboad.com to try Jim’s Group Home Accelerator free for seven days. All show notes and links are available below. Timestamps Jim’s real estate background and pivot to sober living homes during COVID – 01:24  Explaining sober living homes vs. recovery facilities – 05:17  Operational requirements: rules, accountability, and house structure – 11:37  Marketing and participant sourcing through rehab centers and reentry programs – 12:12  Financial benefits: comparing cash flow of traditional rentals vs. sober living homes – 18:48 Get in touch with Jim Jim’s LinkedIn: https://www.linkedin.com/in/jim-boad-aba962b5 Website:https://jimboad.com/ Get in touch with Brian Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: https://www.linkedin.com/company/distressed-to-success-podcast Subscribe to follow the show! Chapters (00:00:00) - How to Keep a Drug Addict From Repeating(00:00:45) - Distress to Success: Group Home Accelerator(00:01:56) - How a Real Estate Broker Turned His Own Homes Into Sob(00:04:28) - Leaping Out of the Covid Crisis(00:05:49) - What is a Sobriety Living Home?(00:08:17) - Sober Living Homes: Solo Rooms(00:11:04) - What It Takes to Start a Sobriety Home(00:12:44) - How Do You Connect the Right People With a Sobriety Home(00:14:16) - How long is a substance abuse participant in our home?(00:18:42) - 4+ Bedroom Home(00:22:32) - Sober Living Homes: Need to Care, Location(00:27:50) - Do Rent-a-Home Companies Make Money?(00:30:27) - What is Group Home Accelerator?(00:33:52) - A Cool Use of AI in the Home(00:37:16) - Alex Hermosi's Million-Dollar Money Models(00:39:45) - Jim Dobson on Distress to Success

    Building Bridges to Sobriety: Jim Boad of Group Home Accelerator on the Sober Living Model

  7. Jun 24

    Inside Rural Economic Development: Lisa Hurley, Executive Director at York County Development Corporation

    In this episode of Distressed to Success, Brian speaks with Lisa Hurley, executive director of the York County Development Corporation. Over their 30-minute conversation, Lisa shares how a 20-year career in economic development led her to York County, Nebraska, where she now juggles everything from housing and talent recruitment to small-business support and industrial expansion.  Lisa explains the nuts and bolts of building an effective EDO-securing three to five years of funding for salary and program costs, commissioning a strategic plan, setting up forgivable-loan or revolving-loan funds, and committing to ongoing marketing.  She also highlights the importance of structuring as a public–private nonprofit to maintain community trust, while nurturing close ties with elected officials. Brian and Lisa then dive into two marquee projects.  First, Klute, originally a one-building, forty-employee electric-pole manufacturer, which, with York County Development Corporation’s help in securing low-interest revolving loans and state site-development grants, has grown to over 200 employees and multiple automated facilities.  Next, the York Regional Workforce Development Center, a long-held vision to unite high-school career-academy students and adult learners under one roof. Supported by Southeast Community College and local school districts, the 20,000-square-foot center will deliver CNA, MedTech, welding and automation training right in York County, accelerating workforce pipelines in both healthcare and advanced manufacturing.  Throughout the episode, Lisa stresses persistence (“don’t give up”) and the value of collaboration, from local coffee-shop chats to national conferences hosted by the Nebraska Economic Developers Association, the National Rural Economic Developers Association, and the International Economic Development Council.  She encourages would-be community developers to start small, sprucing up a window display, organizing a park clean-up, and to plug into regional and state networks. By sharing real-world tools, funding strategies, and relationship-building insights, Lisa Hurley offers a practical playbook for turning blighted areas from distressed to successful. Timestamps Lisa Hurley’s Background & Role at York County Development Corporation – 01:06  Setting Up an Economic Development Organization: Research, Funding & Structure – 04:24  Funding & Program Tools for Community Development (Strategic Plans, Revolving Loan Funds, Technical Assistance) – 06:23  Success Stories: Klute Manufacturing Growth & York Regional Workforce Development Center – 12:18  Professional Networks & Conferences for Economic Developers (NREDA, IEDC, State Associations) – 29:39 Get in touch with Lisa Lisa’s LinkedIn: www.linkedin.com/in/lisa-hurley York County’s LinkedIn: https://www.linkedin.com/company/york-county-development-corporation York County’s Facebook: https://www.facebook.com/YorkCountyDevelopmentCorporation/ Website: https://www.yorkdevco.com/ Additional Resources Mentioned NREDA membership: https://www.nreda.org/membership-join Get in touch with Brian Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: Chapters (00:00:00) - Nebraska Dual-Edition Facility(00:01:05) - Disaster to Success(00:02:13) - Executive Director of York County Development Corporations Discusses Issues(00:05:17) - York County Economic Development Corporation(00:07:25) - Funding for small business development(00:13:27) - York Regional Learning, York Regional Workforce Development Center(00:17:53) - The Welding Academy(00:23:15) - Dell Computer's Growth in York County(00:25:18) - York County Development Corporation offers help to small business(00:29:17) - Rural Economic Development Conference(00:33:18) - What is a Community Development Corporation in Nebraska?(00:37:36) - Don't Give Up on Community Development(00:40:19) - Carpent Outs(00:41:54) - Carve Out Your Own Travel Art(00:43:25) - On AI in the Schools

    Inside Rural Economic Development: Lisa Hurley, Executive Director at York County Development Corporation

  8. Jun 10

    Lighting Up Fort Madison: Michael Mohrfeld and Mohrfeld Electric’s Blueprint for Community Growth

    In this episode of Distressed to Success, Brian speaks with Michael Mohrfeld, owner of Mohrfeld Electric and Green Oak Development. Michael takes us along his own journey, from apprenticing as an electrician to founding a 70-employee contracting firm and then launching a development arm in 2014.  What began as an effort to bring affordable single-family housing to Fort Madison, Iowa, quickly evolved into custom homes, higher-end condos on a bluff overlooking the Mississippi, and even workforce housing projects. Along the way, Michael shares hard-won lessons about cost controls, leveraging volunteer labor and trades, and knowing when and how much to borrow so a project stays both realistic and financially viable.  The heart of the conversation centers on Green Oak’s signature marina and riverside restaurant redevelopment, a nearly $25 million public-private revitalization that rescued a deteriorated boating facility and created a vibrant event space. Michael describes forming a nonprofit steering committee, winning FEMA and state grants, raising over $3 million from local businesses, and mobilizing contractors who donated labor and equipment to stretch every dollar.  He also explains how the restaurant and event center arm was structured as its own for-profit venture, giving Fort Madison residents, and passing tourists, a place to gather, dine, and rediscover the riverfront.  Looking ahead, Michael dives into emerging tools for small-town developers, from Iowa’s Workforce Housing Tax Credit to grayfield incentives and IEDA grants. He underscores the importance of regional planning partnerships and encourages local leaders to stop waiting for an outside star developer and instead invest in the people already rooted in their communities.  Finally, Michael reminds us to carve out time for what matters most: family. Whether you’re tackling your first subdivision or debating your 20th, his advice on balanced leverage, community collaboration, and taking your kids racing on weekends will resonate with anyone determined to turn distressed places into booming success stories. Timestamps Michael’s transition from electrical contractor to community-focused developer – 01:03  First development: building 35 spec and custom single-family homes – 03:05  Bluff-top condo project: pivoting to “empty-nester” maintenance-free living – 03:36  Revitalizing a failing marina via a public-private partnership – 05:04  Using workforce-housing tax credits and Grayfield incentives for multifamily – 28:25 Get in touch with Michael Mohrfeld Electric Website: https://www.mohrfeldelectric.com/ Green Oak Development Website: https://www.greenoakdevelopment-ia.com/ LinkedIn: https://www.linkedin.com/in/michael-mohrfeld-4950b412/ Mohrfeld Electric Facebook: https://www.facebook.com/MohrfeldElectric Green Oak Development Facebook: https://www.facebook.com/p/Green-Oak-Development-100063609909584/ Additional Resources Mentioned Convergent Nonprofit: https://www.convergentnonprofit.com/ Get in touch with Brian Last Best Partners' Website: https://www.lastbestpartners.com/ Brian's LinkedIn: https://www.linkedin.com/in/brian-seidensticker-90117021 Podcast LinkedIn Page: Chapters (00:00:00) - Local Hero: Save Your Community(00:00:39) - Distress to Success: Michael Morfeld(00:01:24) - Michael McAfee, Principal of McAfee Development(00:03:32) - How Real Estate Developers Are Affecting the Market(00:05:11) - Electrician-Developers Turn Solar Projects Into a Marina(00:06:45) - Ontario Home Builder on the 35 Home Development(00:08:31) - "It's time to be done"(00:08:42) - How Much Has Real Estate Changed in the City?(00:11:51) - The Kano Development Tells Story(00:18:46) - The Center for Local Events(00:20:03) - How the Event Center Was Raised(00:24:18) - The Fort Madison Marina Project(00:28:37) - Greyfield and Workforce Housing Incentives(00:33:05) - Iowa's workforce housing tax credit(00:37:02) - Iowa Economic Development Board Discusses Regional Planning Commission(00:43:50) - Give Back: The Book of Golden(00:46:12) - Carve Out for Small Communities(00:47:42) - Michael Jackson on Balance With His Kids

    Lighting Up Fort Madison: Michael Mohrfeld and Mohrfeld Electric’s Blueprint for Community Growth
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5
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About

Distressed to Success is a podcast that discovers how savvy investors and entrepreneurs are profitably transforming underserved communities through strategic investment and innovative business models. Host Brian Seidensticker, Co-Founder of Last Best Partners, interviews local developers, business leaders, entrepreneurs, and investment professionals who have successfully brought private capital into distressed areas while generating sustainable returns. From Low Income Housing Tax Credits to creative financing solutions, each episode uncovers actionable strategies for identifying investment opportunities that deliver both financial returns and meaningful community revitalization. Learn from leaders who have transformed cities like Detroit, Cleveland, and Memphis through profitable ventures that create lasting community improvement. Whether you're a high-net-worth investor, local developer, or community development professional, discover how to turn distressed assets into thriving neighborhoods while building sustainable businesses that benefit both your portfolio and your community.

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