Advice on Milwaukee BRRRR and hard money loan

[Andrew Fosticz]

New investor looking to purchase a property in the Graceland area in Milwaukee - seeking advice on BRRRR strategy and hard money loan.

I have negotiated a selling price of $94k on a 3 bed, 1 bath home that needs a new roof, bathroom and kitchen updates and interior paint throughout. Water heater, furnace, and A/C unit all currently work, but are between 15 and 20 years old.

I have approximately $50k available in cash to fund this deal, however, I am interested in a hard money loan. Given the roof, bathroom, and kitchen updates, I'm assuming I will need between $20 and $30k for updates immediately. ARV should be around $150k.

I am seeking advice on how to proceed, if I should proceed with this deal, and possible partnerships to learn along the way.