Real Estate Investing: How to Find Great Deals on Undeveloped Lots with Big Potential

Purchasing a plot of land can be one of the best investments to make. A landowner has great (but not unlimited) freedom in how to develop their plot, and land never expires so its potential is essentially infinite. That said, buying undeveloped or vacant land can be risky business, so read on to find tips on purchasing a plot.

Do Your Homework: Before You Get Onto The Land

Before anything else happens, figure out your priorities. Decide what you want the land for, what amenities and what location you want, what you’re looking for in terms of neighbors or local government, and, of course, know your budget. More specific questions will arise around taxes, fees,and permits for building, available utilities/water access but, first, just start with your ideal land plot and work backwards (and into reality) from there.

Do Your Due Diligence: On The Land Itself

Once you find a plot that fits your needs on paper, get out onto it. Walk the land with an eye on the topography (any unexpected hills or valleys? Is the ground solid/fertile/arable, depending on what you need?), neighboring properties, size and shape of the plot, and any other element that the walk brings to your senses (smell and hearing as well as sight). Ideally, do this walk in the fall, so there is no foliage hiding your view of the property and what’s around it.

Don’t Despair: It’s Costly, But There Are Deals Out There

Remember that developing the land will incur costs too. Budget for as many foreseeable costs as you can, including a land survey, well/utility installation, legal fees, land clearing, landscaping, road construction and others. That said there are places you can look at for deals on the initial land purchase, including property lots for sale (which are cheaper the farther they are from major cities, road access, and already-connected utilities) or bank-owned plots. For those, you can talk to your real estate agent about asking local banks for lists of their foreclosed properties, which tend to be cheaper as banks look to sell them off.

Don’t Be Afraid To Ask: Reaching Out To Experts

Finally, talk to people. Ask locals about the neighborhood, previous uses of the land, potential surprises (like calm paths that turn into snowmobile trails in the winter). Connect with professionals in the local health department, zoning and building departments, accountancy and other areas of development for in-depth answers to your municipal questions.

But remember: while you will need to talk with many professionals in your due diligence, let me be your first point of contact – J.P. Cook – 602-320-4253.

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48008 N 520th Avenue Aguila, AZ 85320

$460,000

3 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6648747

Property Type Single Family Residence

Price Type --

Discover the enchanting skies adorned with stars at the incredible Fantastic Airpark property. Equipped with a hangar for your planes, RVs, and various toys, this residence is situated in Aguila within the Valley of the Eagle Flight Park. The kitchen boasts beautiful custom Knotty Alder cabinets, adding a touch of elegance. With three bedrooms and two baths, the property spans approximately 7 acres, featuring covered patios on either side to cater to all your outdoor activities. The bedrooms are thoughtfully soundproofed for peaceful nights free from snoring disturbances. The property is serviced by Aguila water, propane, and septic facilities. Building permits for the hangar are readily available. you won't be disappointed.

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22348 N Braden Road Maricopa, AZ 85138

$460,000

5 Beds

3 Baths

2,912 SqFt

Status Active

MLS # 6654144

Property Type Single Family Residence

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This remarkable home is situated in the renowned golf community of Rancho El Dorado, offering a high-end resort ambiance with scenic walking paths, serene lakes, and a variety of dining options and nearby shopping. Located in the ever-growing areaof Maricopa, this Adorable 5 Bed/3 full Bath home is move in ready! Open floor concept, with spacious backyard, landscaped with beautiful green grass, perfect for entertaining! Upstairs features a loft with built in desks and entertainment area. Located near shopping and amenities.

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9322 W Oregon Avenue Glendale, AZ 85305

$460,000

3 Beds

2 Baths

2,145 SqFt

Status Active

MLS # 6659752

Property Type Single Family Residence

Price Type --

This home is located in the Westgate Entertainment District and features A 3-bedroom + Den and 2 bathroom. This home is perfect for entertaining with a Large open floor plan including a Living and Family Room. Gourmet Kitchen with dark oak cabinets, granite countertops and large Island, Caffe Refrigerator, Frigidaire Double oven, microwave and dishwasher. Walking through the home you will love the tall ceiling with classy two-toned paint and 8ft. door. The Primary bedroom has an inviting double door entry and larger walk-in closet. The primary bathroom has separate tub and shower, 2 private raised vanities with pendent lighting. The additional bedrooms are generously sized with walk-in closets. The exterior of the home has an extended paver drive to the RV gate and mature landscape. Just minutes to the Loop 101, Westgate with all it has to offer including shopping, dining and night life activities not to mentions all the sporting options like The State Farm Stadium, Gila River Arena and various sports training facilities nearby. Coming Soon is the 60-acre VAI Resort with hotels and entertainment destinations in Arizona scheduled to open in 2024.

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21233 N 30th Avenue Phoenix, AZ 85027

$460,000

3 Beds

2 Baths

1,750 SqFt

Status Active

MLS # 6659219

Property Type Single Family Residence

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Beautiful north Phoenix home in a great location! Luxury vinyl plank flooring and new interior paint provide a bright, neutral landscape for you to personalize. An Arizona room makes a perfect sitting area with it's own mini split, office or gym space. Backyard with grass, patio and paved sitting area. White cabinets in the kitchen and new fixtures have modernized this great home. No neighbors behind, backs to grass field. Additionally, the inclusion of solar panels- OWNED, new Ecobbe thermostat and a Tesla charger highlights the home's commitment to sustainability and modern technology, offering both energy efficiency and convenience for electric vehicle owners. Overall, this property presents an appealing combination of comfort, style, and practicality.

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