2nd time ever making an offer on a property experience Salem, OR

[Joshua Udermann]

Made an offer on a great fixer-up property. Kinda bummed to find out I lost a multi-bid situation.

This was only my 2nd time ever making an offer on a home. 

Property was on the market for $110,000.  
I offered $132,500, seller/myself splitting closing costs, 3% each.  
Final cash cost to get into the home: $7968.

There ended up being 13 other offers on the property and 3 were all cash deals.  Disappointed to have lost this one.  Looked like it would have been a great investment for the price.  Planned to do a small bit of work to make it more livable right before moving in and then house hacking and doing repairs.  I think rent easily would have been $800-$900 to rent the other two rooms.

Let me know what you all think!

3 bed, 1 bath, kitchen, living room, laundry room and huge 7000 sq foot lot.
http://www.zillow.com/homes/for_sale/53021469_zpid...