Feasibility of using hard money for first BRRRR deal

[Ian Mains]

Hello BP Community! 

It's been awhile since my intro post, over three years, but I am back and getting truly energized about the possibilities available for BRRRR investing to those willing to do the homework.

I have been busy educating myself as much as possible lately. I am currently reading David Greene's BRRRR book, and he mentions it would be prudent to save up for the full purchase of your first deal (compared to putting 20% down), however I don't think I will want to wait that long. My finances are in a much improved position and will find myself being able to save quite a bit through my day job, but would still probably take quite some time to save up enough to pull off a deal in all cash.

From reading about hard money here on the forums, it appears that is a possible solution. I could see myself in a position where I am able to put some skin in the game on a hard money loan in order to procure a deal (still learning about that part).

My question is: has anyone done this, especially for a first BRRRR deal and willing to share details/pitfalls/lessons? Any lenders I should look at or avoid?