480% cash on cash return in 9 months?

[Paige de W.]

Investment Info:

Other other investment.

Purchase price: $15,000
Cash invested: $2,500
Sale price: $27,000

I bought a tax foreclosed lot in my neighborhood and ended up selling it about 9 months later for a 480% cash on cash return? Am I doing the math wrong?

What made you interested in investing in this type of deal?

I just wanted to get started, and walked by this lot one evening. It was not on the MLS but for sale via contract for deed thru the county.

How did you add value to the deal?

I did nothing to add value. I think it was beginners luck.

What was the outcome?

Over 10k in my pocket for doing almost nothing.