Earnest Money

[Chuck Brickman]

I've been fortunate to talk with quite a few investors from this site and I often hear that it's not unusual for them to place 4 to 5 bids on houses in a month. Here's my question; if you give 1k, or even $500 earnest money with each bid aren't you tying that money up for a month...if the offer falls through don't you have to wait 30 days to get it refunded? Is there another way of doing this that I don't know about (and I know there is a lot!).

Thanks