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

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

Click Here to See What Your Home is Worth

1 E Lexington Avenue Phoenix, AZ 85012

$549,000
2 Beds
2 Baths
1,261 SqFt
Status Active
MLS # 6684019
Property Type Apartment
Price Type --
Experience urban living at its finest at One Lexington! With 180 degrees of city/mountain views and within a few easy steps of the light rail this loft style 2 bedroom/2 bath luxury high-rise condo will not disappoint! Featuring an open floor plan with floor to ceiling windows to capture the views, wood and tile flooring throughout, quartz countertops, stainless steel appliances, flex/office space, and lots of storage. Community amenities include a 24 hour fitness center, heated pool and spa, BBQ grill stations, TV-equipped cabanas, extra storage locker, club room, bark park, bike storage room, EV charging, and front desk concierge service.

10114 E Tiger Lily Avenue Mesa, AZ 85212

$549,000
2 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6687249
Property Type Single Family Residence
Price Type --
Gorgeous split floor plan in the beautiful community of Encore at Eastmark. You will love the pavered driveway and sidewalk leading to the entrance of the home. Home features a beautiful kitchen with Walk-in Pantry, Granite Counters, Large Island w Pendant Lights, Extensive Birch Cabinets w Stainless Steel Appliances. Kitchen opens to eating area & large family room. Very nice sized primary bedroom w big walk-in closet and large walk-in shower w bench. 2nd BD and den/office area are in the front of the home for more privacy from guests. The backyard is just beautiful w easy care landscaping. Exterior of Home just freshly painted March 2024. Encore is a beautiful active adult community w/many amenities including walking paths, a state of the art club house, workout facility, tennis, ...... pickleball, bocci ball, heated pool & spa. You will love your new home!

2511 W Queen Creek Road Chandler, AZ 85248

$549,000
2 Beds
2 Baths
1,459 SqFt
Status Active
MLS # 6690928
Property Type Apartment
Price Type --
Resort living at its best! Enjoy the tranquility and security of condo living in the heart of Ocotillo surrounded by fountains, lakes, and restaurants within walking distance. This highly upgraded 2+ den plus flex space for offices, is light, bright, and open to the living area with private balcony. Owner has added many conveniences - sliders in kitchen & primary bath, organizers in primary and laundry, electric shades in living room for sliding door and blackout shades in both bedrooms. This East facing unit gets lots of light! Patio is tiled as well as kick wall of breakfast bar. FYI - Kitchen table light does not convey. Bring your fussiest buyer!

9414 S 47th Place Phoenix, AZ 85044

$549,000
2 Beds
2 Baths
1,518 SqFt
Status Active
MLS # 6699575
Property Type Townhouse
Price Type --
Don't miss out on this stunning 2 bed, 2 bath single level home nestled in the resort-style community of Pointe South Mountain. Step inside to discover a plethora of upgrades, including engineered hardwood floors, a remodeled kitchen with granite counters, stainless steel appliances, including a double oven and soft white cabinets. Throughout the home, shutters add a touch of elegance and privacy. The master bathroom features a Pottery Barn marble vanity, separate tub and shower. The guest bath features a beautiful travertine walk-in shower, vanity with a bowl sink, and sconce lighting. Step into paradise in the private backyard oasis, where an extended travertine tile patio overlooks lush artificial grass which creates a serene and private retreat or relax in the community pool & spa. Residents have access to the community pool and spa, Arizona Grand Golf Course, and hiking trails, providing endless opportunities for recreation and relaxation. Don't let this opportunity slip away! Come experience the epitome of resort-style living!

18225 W El Caminito Drive Waddell, AZ 85355

$549,000
3 Beds
2 Baths
2,144 SqFt
Status Active
MLS # 6693821
Property Type Single Family Residence
Price Type --
Introducing El Caminito! An extended length 3-car garage, gorgeous views & OWNED SOLAR (which helps save on energy costs)! This move-in ready home boasts a desirable split floor plan, offering both privacy & convenience. The bathrooms & kitchen have been beautifully remodeled, adding a touch of elegance to the home. One of the standout features of this over 10,000 sq. ft property is the unobstructed White Tank Mountain Views! The oversized lot provides ample space for outdoor living, activities & multiple mature fruit trees for the gardener enthusiast. Imagine waking up to the breathtaking mountain views right from the comfort of your own home. Watching the sunset will become an every night ritual as you capture the orange, pink & blue open skies. Welcome Home to El Caminito in Waddell.

10346 E Jerome Avenue Mesa, AZ 85209

$549,000
3 Beds
2 Baths
2,511 SqFt
Status Active
MLS # 6694379
Property Type Single Family Residence
Price Type --
Welcome to this charming single-level home, boasting three spacious bedrooms and showcasing impeccable condition throughout. As you step inside, you're greeted by a warm and inviting atmosphere, filled with natural light that enhances the elegant interior. The open floor plan seamlessly connects the living room, dining area, and kitchen, providing an ideal space for both entertaining guests and daily family gatherings. Outside, the beautifully landscaped yard provides a serene oasis, complete with lush greenery and a patio area, perfect for enjoying morning coffee or evening gatherings. Located in a desirable neighborhood.

342 W Beechnut Place Sun Lakes, AZ 85248

$549,000
2 Beds
2 Baths
2,304 SqFt
Status Active
MLS # 6686725
Property Type Single Family Residence
Price Type --
Expanded popular Palmera model w/split bedrooms in the desired active adult community of Ironwood in Sun Lakes. This unique home has a 400sf bonus room addition, perfect for a game room, with heat and AC, new carpet, and tons of windows. Kitchen has maple cabinets, island with induction range top, newer SS appliances, and a cute breakfast area. Great room with vaulted ceilings. Spacious master suite with bumped out bay windows, custom niches, walk-in shower with glass brick wall, dual sinks and an amazing walk-in closet. Large laundry room with newer W/D and a lot of cabinets. Guest bath with walk-in tub. Extended garage. Unique corner lot with potential for golf course views. Start enjoying IronOaks with its many amenities like golf, tennis, pickleball, pools, restaurants & many clubs.

2505 E Summit Avenue Prescott, AZ 86303

$548,999
2 Beds
2 Baths
1,734 SqFt
Status Active
MLS # 6693890
Property Type Single Family Residence
Price Type --
WOW! Welcome to this charming home on 2-acres in the Hassayampa mining district. A stunning turn-key home that has been totally upgraded in 2023. It features soaring vaulted ceilings, a spacious greatroom, a wood-buring fireplace that gives a warm and inviting ambiance, a rustic, charming kitchen with granite countertops and a large island, 2 owner suites, a loft bedroom that could easily be converted to 2 bedrooms, 2 full baths, a one-car tandem garage, and a large storage shed. An expansive Trex deck wraps around 2 sides of the house, offering spectacular views that will take your breath away. Surround yourself with nature and own your private forest retreat, nestled in the magnificent Pandersora Pines. Barely been lived in. PIRCE TO SELL! MUST SEE THIS ONE!!!

40338 W Michaels Drive Maricopa, AZ 85138

$548,995
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 6695462
Property Type Single Family Residence
Price Type --
The ranch-style Cassandra plan showcases 10-foot ceilings throughout the open layout with a great room, a breakfast nook and a large gourmet kitchen. The owner's suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby private study with French doors.

40322 W Michaels Drive Maricopa, AZ 85138

$548,995
5 Beds
3 Baths
3,000 SqFt
Status Active
MLS # 6695699
Property Type Single Family Residence
Price Type --
The main floor of the Yorktown was designed for entertaining, offering an expansive great room, an open dining room overlooking a covered patio and backyard. A gourmet kitchen with a large center island, built in wall microwave/oven combination, gas cooktop, and walk-in pantry awaits the inner chef. Enjoy Arizona sunsets in the morning room surrounded by windows, right off the kitchen. The 3-car garage leads to a convenient mudroom with walk-in closet, a full bath, and a bedroom perfect for overnight guests. On the second floor, there's an immense loft surrounded by three bedrooms(one includes a walk-in closet!), a shared bath, a large laundry room and an owner's suite with a deluxe bath including a large walk-in shower and spacious walk-in closet.

13640 W Banff Lane Surprise, AZ 85379

$548,900
3 Beds
2 Baths
2,261 SqFt
Status Active
MLS # 6702275
Property Type Single Family Residence
Price Type --
Welcome to this charming single-level home with a pool in the desirable Litchfield Manor! Gorgeous kitchen with quartz counter tops, a large kitchen island, double ovens, gas cook top, a deep double SS sink and a gigantic walk-in pantry. A tremendously large master bedroom with private door to the patio and en suite that has a new custom tile shower, quartz double vanity, walk-in closet. The sparkling waterfall pebble tec pool with a large a Baja step is ready for summer fun! This corner lot offers privacy on one side and the back of the home. You'll love this immaculate home in neutral colors. It's the Perfect Family Home is close to schools, shopping and dining. The house has natural gas for the furnace, cooktop and hot water tank. The laundry room hook-up for the dryer is set up for either gas or electric. Large den for your office. Workbench in garage. Paved side yard. Don't miss the chance to make this your new home!

610 E Royal Palm Square Phoenix, AZ 85020

$548,888
2 Beds
2 Baths
1,578 SqFt
Status Active
MLS # 6677050
Property Type Single Family Residence
Price Type --
Welcome to this delightful patio home nestled in the heart of Central Phoenix with a convenient location close to fabulous dining. This meticulously updated residence offers an inviting atmosphere and stylish upgrades throughout. As you step inside, you're greeted by an airy and bright living space adorned with tasteful finishes. The focal point of the home is the kitchen, boasting luxurious quartz countertops that effortlessly blend style with functionality. Custom cabinets provide ample storage, while dark stainless steel appliances add a touch of sophistication to the culinary space. The home features updated bathrooms, from sleek vanities to designer tiles, every detail has been carefully curated to elevate your daily routine. Low-maintenance patio for outdoor enjoyment.