I am interested in potentially using private money to get started in real estate investing.

Next we have PMI (Private Mortgage Insurance), or FHA mortgage insurance.

In essence, you work with your attorney to setup a PPM (private Placement memorandum) which allows you to advertise to raise money.

I've been going to the REIA meetings but everyone I've met so far have private funding. 

Rental Rates high seasonDaily range $125-$160 Weekly $850-$950Rental Rates low seasonDaily $105-$120Weekly $675-$800 Residential tower is one of the most sought-after residences in the beach area.The building is an icon and a staple in Panama’s beach communities– particularly amongst English-speaking expats and vacation homeowners.It’s known throughout Panama for its ideal location, breathtaking coastal views, resort-style amenities, and spacious high-quality apartments. amenities include: Direct beach accessRooftop pool and social area with panoramic beach and mountain viewsGround pool and social areaChildren’s poolFitness centerGame roomLow monthly maintenance feesCovered parking24-hour securityOther advantages: Home to an established community of English-speaking expatsA short walk to several excellent restaurants and a mini-supermarketAbout five minutes drive to the major supermarkets, banks, shopping, and more restaurantsJust over an hour from Panama City, largest city and national capitalDeveloper units have long since sold out, and people take advantage when a resale comes on the market.High resale value and reliable rental incomeThe Apartments iconic and high-demand development– occupying an exclusive and enviable waterfront position and filled with lavish amenities.The units, which sit on the 1st, 2nd, and 4th floor, each offer a prize-winning & unobstructed view of the Pacific, and a private balcony fully furnished, with modern tropical-chic décor that suits its beachfront ambience kitchenettes have also been providedNow for the numbers: average monthly rental: $2,200; property mgmt fee $115, condo maintenance fee: $68; Cable wifi $60; electric $60 mo, Rental mgmt fee: 20%; asking $185,000 USDMore detail in terms of Property insurance, taxes pending.

If not, there may be private money sources that can work for you.  

Hard/Private money is great if you find the "right lender" and terrible if you pick the wrong one.

I would suggest speaking with investors in your local real estate investor association group about private lenders.

Anyone out there with experience using foreign private money, for example AUD, and how you handled the risk of currency fluctuation?

Even the best tenants need time to privately discuss the pros and cons of the place, then go home and look up old landlords' phone numbers, etc.