Distressed to Success: Conversations with Community Transformation Leaders

Brian Seidensticker
  • 5.0 (6)
  • 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.

Episodes

  1. From Teenage Entrepreneur to Leading Affordable Housing Developer with Kathy Makino-Leipsitz

    DEC 17

    From Teenage Entrepreneur to Leading Affordable Housing Developer with Kathy Makino-Leipsitz

    Join Brian for an inspiring conversation with Kathy Makino-Leipsitz, a pioneering affordable housing developer who has spent over 30 years transforming distressed communities through the Low Income Housing Tax Credit (LIHTC) program. From buying her first duplex at 19 with $2,500 down to completing 22 tax credit developments, Kathy shares her remarkable journey and the lessons learned along the way. What You'll Learn: How a father's disability at age 12 sparked an entrepreneurial spirit that led to real estate investing The fundamentals of LIHTC (Low Income Housing Tax Credits) explained in simple terms - why it's the "most magical tool" for affordable housing The difference between 9% and 4% tax credit programs and why one is significantly more competitive How LIHTC creates beautiful, dignified, affordable housing that doesn't look like "typical" affordable housing Why Section 8 housing can trap families in poverty while tax credits provide a pathway out The devastating impact of losing $5 million in historic tax credits on a $36 million development Key mistakes to avoid in affordable housing development and the importance of staying focused Key Timestamps: [02:15] - Kathy's origin story: How her father's heart attack changed everything when she was 12  [08:30] - The entrepreneurial beginnings: From selling candles door-to-door to buying her first duplex at 19  [12:45] - Discovery of the LIHTC program and her first 64-unit development in 1995  [18:20] - LIHTC fundamentals explained: How 9% credits work and why they're so powerful  [25:10] - The difference between LIHTC and Section 8 housing - and why one builds wealth while the other traps families  [32:45] - The Palmer Park project disaster: How losing historic tax credits cost $5 million  [45:20] - Current project: 54-unit veterans housing in Florida using 4% credits  [48:15] - Top lessons learned: Stay focused, avoid politics, and take calculated risks Get in touch with Kathy Kathy Makino-Leipsitz Website: https://www.shelbornedevelopment.com/ LinkedIn: https://www.linkedin.com/in/kathy-makino-leipsitz-13bb796/ Email: kathy@shelbornedevelopment.net Resources Mentioned Low Income Housing Tax Credit (LIHTC) Program - The federal tax credit program that has financed over 3 million affordable rental homes since 1986 Historic Tax Credit (HTC) Program - Federal program providing 20% tax credits for rehabilitating historic buildings "Nothing Down" book - Real estate investing book Kathy read at 16 that started her journey Michigan State Housing Development Authority (MSHDA) - State agency that allocates tax credits in Michigan 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) - How to Start a Business When You're 16(00:00:55) - Developers: Distress to Success(00:09:59) - LIHTC Tax Credit(00:15:36) - Section 8: The Magic Tool for Affordable Housing(00:22:05) - Immigrant Homeownership Tax Credit(00:26:01) - On the 4% vs 9% Housing(00:32:14) - Detroit real estate: The bad experiences(00:37:47) - Local developer on historic tax credits(00:41:40) - Projects that keep you motivated(00:42:44) - Detroit Mayor Mike Duggan on His Own Projects(00:48:51) - Carve Outs(00:51:04) - When Can I Get This Deal Closed?(00:51:46) - Detroit Builders Welcome First Women

    53 min
  2. Brad Westover's 30-Year Journey: From Tax Sale Novice to Industry Leader

    DEC 3

    Brad Westover's 30-Year Journey: From Tax Sale Novice to Industry Leader

    Join Brian as he sits down with longtime industry colleague Brad Westover, Executive Director of the National Tax Lien Association (NTLA) - the only nonprofit organization working to improve the tax sale space. In this episode of Distressed to Success, Brad shares his remarkable 30-year journey from college graduate to industry leader, including his role in passing California tax lien legislation and managing $1.5 billion in investments across 22 states. What You'll Learn: How the tax lien industry was founded in 1996-1997 by two rival companies that couldn't even be in the same room together The basics of tax lien investing are explained in simple terms - what happens when property owners don't pay their taxes Why 29 states, plus Washington, DC, allow private investors to purchase tax liens The critical role tax lien sales play in helping local governments balance budgets and fund essential services Major challenges facing the industry, including a significant Supreme Court case coming in 2026 Why property tax abolition efforts in Ohio and Florida could be devastating for local communities Key Timestamps: [01:23] - Brad's origin story in the tax lien space [07:55] - Tax liens explained for beginners [36:46] - Discussion of Montana agriculture and working lands [38:08] - The inspiring story of Franz Wisner [42:26] - Industry challenges and the 2026 Supreme Court case Get in touch with Brad Executive Director, National Tax Lien Association  (NTLA) Email: BPWestover@NTLA.org  Website: NTLA.org LinkedIn: https://www.linkedin.com/in/brad-westover-realtor/ Resources Mentioned "The 16% Solution" by Joel Moskowitz - A foundational text in tax lien investing, written about 30 years ago, still considered essential reading for understanding the industry basics "Honeymoon with My Brother" by Franz Wisner - An inspiring story about turning life's setbacks into opportunities; movie rights sold to Sony Pictures for $1 million 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/in/brian-seidensticker-90117021/  Subscribe to follow the show!

    42 min
  3. Building Communities, Building Wealth

    AUG 19

    Building Communities, Building Wealth

    Welcome to Distressed to Success, a new podcast where we’ll discover 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, brings his extensive experience in real estate investing and developing software that serves thousands of investors nationwide to explore the most profitable investment opportunities hiding in plain sight in communities that others have written off. In every episode, Brian will sit down with transformational leaders, developers, business owners, and investment professionals who've successfully brought private capital into areas that traditional investors overlook. From Detroit's forgotten neighborhoods to Cleveland, Memphis, and across the Rust Belt, these conversations will dive deep into real strategies that work, including low-income housing tax credits, creative financing solutions, and innovative approaches to community development. Whether you're a high-net-worth investor seeking impact opportunities, a local developer working to improve your community, or a professional in community development, you'll walk away with actionable strategies you can implement. This isn't about theory or feel-good stories, these are real people generating real returns while creating lasting community impact. Because here's what Brian has learned: the best investments don't just build wealth, they build communities.  Subscribe to Distressed to Success wherever you get your podcasts and join the journey to turn distressed assets into thriving neighborhoods while building businesses that benefit both your portfolio and your community.  We’ll see you soon. About Last Best Partners Last Best Partners is an innovative venture capital firm that provides forward-thinking real estate investors with the capital and technological tools necessary to navigate and excel in today's dynamic market landscape. Founded with a vision to transform the real estate investment industry, the firm has grown from its origins in tax sale data aggregation to become a comprehensive platform offering creative funding, advanced data solutions, and cutting-edge software.   About Brian Seidensticker Brian is the founding partner at Last Best Partners, as well as the founder and CEO of Tax Sale Resources and several other portfolio companies. With a strong background in systems engineering and an advanced understanding of the tax sale industry, Brian has been instrumental in transforming the way investors access tax lien and tax deed information, developing comprehensive online platforms that deliver accurate data while tracking investor needs and setting new standards in industry due diligence and efficiency.   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/

    2 min
  • 3 Episodes

5
out of 5
6 Ratings

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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