Ernest monies

[Sam Gibson]

I live in Athens, AL and I found 3 properties I would like to make an offer on right away.  There is a lot of schools of thoughts on earnest money.  One investor says just do $100 and just say it's company policy and it's never stood in his way.  Another investor says at least $500 and that changes with the asking price.  The higher the asking price the higher the earnest monies.  Another investor says don't mess around $5,000 because you don't want to miss a deal because you low ball earnest monies.  HELP!  If I had $5,000 you would not be reading this post right now if I could do $100 then I could make those offers this afternoon.  Even at $500 I am waiting on my car to sell to put in an offer.  The plan is to wholesale the first one so I can start my business. I say I but it's really we and our.  Having people counting on me makes me want to try anything at this point.  I don't want to insult anyone because I am looking for long term relationships and being honest and fair is just the way I want to do business.  BTW these properties are in the median range (under $200k) and with a real estate agent.  Thank you in advance for shining a light on this situation.