Steel Forest Lending
We Weather the Storm!
About
Us
The market inefficiencies
we seek as a firm are
exemplified in Distressed
Debt. The Steel Forest team
has a long history of
investing in the debt of
Financially Distressed
properties by providing
Re-Positioning Capital.
Our approach is to help
Property Owners in Distress
talk with their current Lender
to save their Property with
our New Loan.
Our Vision
Our opportunistic approach
and our team’s extensive
expertise at the
intersection of real estate and
distressed debt allows us to
capitalize on continued flow
of over-leveraged and
distressed assets in need of
rescue capital or asset
re-positioning.
Loan Programs
Stabilized Bridge Loans
Purpose: Flexible financing for recently renovated or constructed properties, either listed for sale or transitioning to rentals.
Features No DSCR DSCR Exit Financing for properties listed or soon to be listed for sale. Financing for rented properties not yet ready for permanent financing.
Loan Amount:$50,000/$3,000,000 Term Length:12 months, up to 18 at lender’s discretion | 12 months, up to 18 at lender’s discretion |
Property Types:| Single Family, 2-4 Units, Townhomes, PUD, Warrantable Condos | Single Family, 2-4 Units, Townhomes, PUD, Warrantable Condos,
Max LTC: 85% of purchase price verified completed capex (if owned <6 months) | 85% of purchase price + verified completed capex (if owned <6 months)
Max LTV 70% Min DSCR: 1.10 Exit DSCR (based on lower of in-place or market rent) Property Condition: C2 or better C4 or better with no deferred maintenance Min FICO 660 Collateral Restrictions: Property value within 90th percentile of market; no rural, exotic, or unique properties
Fix and Flip
Ideal for: Investors renovating and reselling residential properties.
- Property Types: Residential (1-4 Units)
- Loan Amount: $50,000 - $3,000,000
- Maximum Loan to Cost (LTC):
- 90% of Purchase Price
- 100% of Rehab Costs
- Maximum Loan to After-Repair Value (ARV): 75%
- Term Length: 12 months, up to 18 at lender’s discretion
- Recourse: Full Recourse
Ground Up
Ideal for: Investors constructing new residential properties.
- Property Types:** Residential (1-4 Units)
- Loan Amount:** $50,000 - $3,000,000
- Maximum Loan to Cost (LTC):**
- Up to 75% of the lower of land value or purchase price (60% if unpermitted) + 100% of construction costs
- Max 85% of total project costs (90% if interest reserve is financed)
- LTC Catch Up Draw to raise initial advance to 75% upon approval of required plans/permits post-closing
- Maximum Loan to After-Repair Value (ARV): 70%
- Term Length:12-24 months
- Recourse: Full Recourse
What
We
Offer
Financial Advisory
Steel Forest launched the Real Estate Income strategy in 2010 to attain Faulty Debt as a step-out from unpredictable times due to the downward market. It expands the reach of Steel Forest's real estate platform through investments that have the potential to provide stable income and attractive risk-adjusted returns, but do not have the requisite overhead's or financial responsibilities during the restructuring thus yielding Exponential returns. The Real Estate Income strategy seeks to achieve superior risk-adjusted returns through investments in high-quality real estate assets with an emphasis on income and long-term growth.
Audit & Assurance
A loan audit is an essential tool at the start of Our Process. You can’t make a decision based on price alone. There are some essential elements to an effective loan audit that you should know before you purchase one. It is said that more than 80% of all mortgages contain some kind of lender violation. Therefore, the chances are fairly high that we could benefit from a loan audit. If a lender violation is uncovered it will provide leverage when seeking out a loan modification, short sale-short pay or any other type of loan workout.
Our loan audit's are a thorough, scientific investigation of a loan to determine whether a lender has violated any federal, state, or local laws in the servicing of the loan. Our loan auditor's can perform a thorough and comprehensive analysis of a client’s mortgage documents to determine if there are any lender violations associated with the mortgage.
Estate Transfers
Steel Forest Lending provides the Finance for Asset Transfers and has Boots on the ground in all states for Quick Sales and Speedy Liquidation of Real Estate Assets.
We are here to help you if you are an executor, heir, realtor, attorney or if you are helping a family member enter assisted living.
We specialize in helping people liquidate inherited property as well as those who are in need of liquidating their own property or the property of loved ones. If any of these scenarios apply to you then you can most definitely benefit from our experience as professional estate liquidators.
Tax
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full.
Fraud prevention
The New York State Assembly passed the “Foreclosure Fraud Prevention Act of 2012” which imposes criminal liability on those in the mortgage business who use allegedly fraudulent and deceptive practices in connection with a foreclosure action, and the Managers who “recklessly tolerate” any such practices.
Savings solutions
One of our greatest strengths lies in the ability to identify faulty debt subsequently maximizing the value of Assets once re-positioned thus generating strong returns for our company.
Why
Us
Deep Industry Knowledge
We understand the importance of industry knowledge - it's at the heart of our business. Our industry experts are central to our services, providing strategic insight and current market intelligence.
Our professionals give a perspective gained from a dedicated industry focus. Their industry insights and relationships provide a truly distinctive edge.
Years of Experience
In short, we know the market inside and out. Our highly specialized team of Lawyers, Bank & Real Estate professionals know the back stories of all of the major players involved on both the operating and investing side, and can attract, influence and maintain proven candidates who deliver critical value and open the doors to new opportunities for our customers.
In-house Research Teams
Research and Analysis of the Legal Process in any defaulted debt position is the Key to our Success, therefore, Our team works to identify, pinpoint, and prove Key Irregularities in a Creditor's process that will secure a meritorious defense which leads to having Distressed Debt significantly discounted and or in extraordinary circumstances vacated.
Unparalleled Legal expertise, fresh thinking, exceptional talent and strong values; our people are the key to our success. We rely on their knowledge, expertise and ability to innovate.
Loan Information
Our Address
1460 Broadway, 14th Floor
New York, New York 10036
Tel: 1-888-873-8977
Florida Office
7901 4th st N
St. Petersburg, Florida 33702