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

17721 W Voltaire Street Surprise, AZ 85388

$548,500
4 Beds
2.5 Baths
2,950 SqFt
Status Active
MLS # 6688420
Property Type Single Family Residence
Price Type --
You will love this beautiful 4 bedroom, 2.5 bath home that includes a bonus room that could be used as a 5th bedroom or as an office/den. With a spacious loft upstairs and two living spaces downstairs there is plenty of room for everyone. This home also has a 3-car garage along with a landscaped backyard that includes a Pebble Tec pool with a water feature! New carpet and vinyl plank flooring has recently been installed along with a fresh coat of paint inside and out.

18245 W Robin Lane Surprise, AZ 85387

$548,000
5 Beds
3 Baths
3,020 SqFt
Status Active
MLS # 6669708
Property Type Single Family Residence
Price Type --
Check out this Beautiful and Spacious home boasting with 5 very spacious bedrooms, 3 full baths, a Den/Office and a Loft. The Garage is a tandem garage with space for 4 cars plus a rear garage door that leads to the backyard. The master Bedroom is absolutely stunning with ample space and a huge walk in closet. The master bath has dual sinks with a shower and Tub. Lastly the kitchen is equipped with 40 inch cabinets, stainless steel appliances, double oven and a sensor sink faucet.

7835 E Lakeview Avenue Mesa, AZ 85209

$548,000
2 Beds
2 Baths
1,946 SqFt
Status Active
MLS # 6606197
Property Type Single Family Residence
Price Type --
SUNLAND VILLAGE EAST GOLF COURSE LOT HOME DOWN FROM THE 1ST TEE! A SHORT DISTANCE FROM THE PRO SHOP AND RESTAURANT. This home has so many great features it is a must-see. New updates include the NEW ROOF with a full warranty, a serviced Trane AC system, recent plumbing updates, and a new kitchen floor. Additional features include stained glass windows in the front entry door, vaulted ceilings, custom wood valences over several windows, and a built-in Mahogany cabinetry. Enjoy a maintenance-free electric fireplace The craftsmanship continues throughout the home with the custom-installed oak plank flooring. Enjoy evenings on your tiled rear covered patio while cooking on the outdoor built-in with an indoor-outdoor surround sound system. The Baker's dream kitchen includes natural light from the skylight, a large pantry with a lot of counter space, and a built-in cutting board making meal prep easy. The guest room easily doubles as an office with its queen-size Murphy Bed that can be hidden away when unnecessary. The spacious primary bedroom has a large closet with a built-in safe. All appliances convey including the Frigidaire front load washer and dryer, and a newer water heater with a soft water system attached. The Extended two-car garage is set up with a built-in workbench including a peg board and utility sink. There is full floor storage galore above the garage to hide away the holiday decorations. Request a showing today!

6580 Mark Twain Drive Pinetop, AZ 85935

$548,000
3 Beds
2 Baths
1,694 SqFt
Status Active
MLS # 6666153
Property Type Single Family Residence
Price Type --
Charming, fully furnished, home located in Pinetop Lakes Country Club with Rec Center privileges! This 3 bed / 2 bath, 1,694 SqFt retreat sits on a .38 lot and is complete with a 2 car garage, a large loft, an open concept design, with a split floorplan! The primary bedroom is located upstairs with an ensuite bathroom and a private balcony. All of the other bedrooms are nicely sized! Enjoy the cool mountain air on the covered, front deck. The backyard is huge and is fully fenced in with 2 side gates. There are also soaring ponderosas throughout the property. Since this home has rec center privileges you will have access to: the club house, pool, spa, tennis and other amenities. magine living in the White Mountains of Arizona where you have 4 beautiful seasons and where you can breathe in the fresh mountain air and enjoy the 40 lakes and over 600 miles of rivers and streams. In addition to the amazing fishing, this area has one of the most extensive trail systems in the southwest for hiking, biking, horseback riding, quadding and more. Sunrise Ski Resort is also just 40 minutes away with 3 beautiful mountains to ski, snow board or sled. If shopping is your interest, you will love the antique stores and the multitude of arts and craft shows that happen in the summer. The music festivals have something to fit everyone's enjoyment. Do you love to golf? There are 7 amazing golf courses, 3 that are public. The White Mountains, where this home/cabin is the best kept secret of Arizona! Come and explore and enhance your living! Pinetop-Lakeside was also voted 'Best Cabin Region in the U.S... Embrace the MAGIC!

1476 E Mia Lane Gilbert, AZ 85298

$548,000
3 Beds
2.5 Baths
2,043 SqFt
Status Active
MLS # 6685024
Property Type Single Family Residence
Price Type --
Beautiful Home located in Vista Dorado. 3 Bedrooms plus office plus huge loft. Upstairs in loft and master bedroom there is access to a deck spanning the entire back of the home. That allows a covered patio on the home the full length of the deck. Yard over looks common area with view fencing. Upgrades galore - diagonal tile,granite countertops and new hardware. LG appliances - kitchen stainless steel. A RV gate on side of home. Do not delay as home will absolutely not last.

5518 N 194th Avenue Litchfield Park, AZ 85340

$547,990
4 Beds
3 Baths
2,173 SqFt
Status Active
MLS # 6705865
Property Type Single Family Residence
Price Type --
Spend quiet mornings sipping your coffee as the sunlight floods your great room from your sliding glass door. Enjoy testing new recipes in the gourmet kitchen with sleek white cabinets and glistening quartz countertops that cascade in a waterfall island. Enjoy a spa-like experience with a drop-in soaking tub and shower with floor-to-ceiling tile in your Owner's Bath. Delight in the durability of luxury vinyl plank flooring that can stand up to kids and pets! Work from home with ease or enjoy your favorite hobby in the enclosed study. This home features a private bedroom with its own bathroom and linen closet, complete with a beautiful tiled shower. 2x6 construction; extensive new home warranty

16000 W Montana De Oro Drive Surprise, AZ 85387

$547,911
4 Beds
3 Baths
2,354 SqFt
Status Active
MLS # 6701629
Property Type Single Family Residence
Price Type --
New home ready for immediate occupancy! This single level 2357 SF single level 4 BR, 3 BA, home is located on a south facing Homesite. Surrounded by single level homes, no 2 stories. Exciting included features include white cabinets, upgraded granite tops, 10' ceilings, 8' interior doors, 4 car garage w/opener, gourmet kitchen w/stainless applainces, garage service door, tank less water heater, Front Yard landscaping, and so much more. Neighborhood also includes, tree lined streets, Certified Energy Star and Indoor Air Plus for more energy savings. 5 Star Resort Style Amenities include, hiking trails, Aquatic Center, 8 select parks, Picnic Ramada's, Basketball, 3 Pickle Ball courts, bocce ball courts, 18 hole disc golf course, and a Zip Line for the kiddos! This home is Energy Star and Indoor Air Plus qualified. Includes full Builder Warranties plus so much More..

882 E Chelsea Drive San Tan Valley, AZ 85140

$547,500
5 Beds
2.5 Baths
3,948 SqFt
Status Active
MLS # 6706369
Property Type Single Family Residence
Price Type --
Motivated Seller ~ Bring All Offers! INVESTOR SPECIAL - Needs Carpet, Paint, etc and some other minor repairs. Home is being sold AS IS and priced accordingly - LISTED AT CURRENT APPRAISAL PRICE! Located In the VERY POPULAR subdivision Pecan Creek North in NORTH SAN TAN VALLEY. Amazing potential in this 2 Story home with 5 HUGE Bedrooms + HUGE Den w/Door and 1/2 Bath Downstairs + LARGE LOFT UPSTAIRS. Refreshing Pool w/Trees Shaded LOW Maintenance backyard & ATTACHED 3 Car Garage w/ EXTRA STORAGE! LARGE Open Kitchen with Black/Stainless Steel Appliances w/GAS! Tons of Walking/Biking Trails. Close to tons of shopping and restaurants. Easy access to Banner Ironwood Hospital and New 24 Freeway!

5714 W Cinder Brook Way Florence, AZ 85132

$547,250
3 Beds
2 Baths
2,386 SqFt
Status Active
MLS # 6664461
Property Type Single Family Residence
Price Type --
RARE 3 CAR GARAGE PLUS EXTENSION! 3 BEDROOMS, 2 BATHS. LOVELY PAVER COURTYARD WITH PERGOLA FOR THE BEAUTIFUL ARIZONA MORNINGS! HOME HAS 2' EXTENSION ACROSS THE BACK OF THE HOME! WONDERFUL WIDE OPEN FLOOR PLAN WITH HUGE KITCHEN ISLAND, LARGE OPEN DEN, 2 BEDROOMS & BATH ARE SPLIT FROM THE PRIMARY SUITE, EXTRA LARGE WALK-IN PANTRY, NICE LAUNDRY ROOM WITH CABINETS & FRIDGE, PLUS SINK WITH WASHER & DRYER INCLUDED. HUGE SLIDER FROM GREAT ROOM OVERLOOKING COVERED & EXTENDED PATIOS AND PRIVATE BACKYARD BACKING TO COMMON AREA. EXTRA LARGE DINING AREA WITH BRIGHT LIGHT FROM BIG WINDOWS, FANS THRU-OUT, 2 TONE PAINT, PLANTATION SHUTTERS, LUXURY VINYL FLOORING, CHEF'S KITCHEN & NICE STAINLESS STEEL APPLIANCES. COME LIVE THE GOOD LIFE WITH ACTIVITIES OF GOLFING, PICKLEBALL! FURNITURE FOR SALE

1308 N 360th Avenue Tonopah, AZ 85354

$547,000
4 Beds
3 Baths
2,346 SqFt
Status Active
MLS # 6701727
Property Type Single Family Residence
Price Type --
A home that has everything you ever dreamed of and then some? Oh yeah! Four bedrooms, three baths, sprawling floorplan with a separate living room and an open kitchen area you'll be proud to show off to everyone. They will be impressed. Maybe they'll even offer to help you cook. Yes it's that inviting. Did I mention the beautiful patio and porch and huge lot? Yes this house has it all. More info and pictures to follow. Nine foot ceilings throughout house as well as vaulted ceilings. Custom height garage door (16x8). 2x6 construction with foam insulation. Double sinks in the beautiful kitchen to help rinse off your veggies. Build your own shop, all your toys, tools, storage, storages, cows or chickens. House walkthrough has been canceled 5/18/24. Details of new date coming soon. NO HOA MEANS, NO HOA RESTRICTIONS. $10K Seller contribution for closing costs, etc.

4658 W Buckskin Drive Eloy, AZ 85131

$547,000
2 Beds
2.5 Baths
2,051 SqFt
Status Active
MLS # 6640709
Property Type Single Family Residence
Price Type --
This home can be partially furnished and features many upgrades and is the place to entertain, provide the perfect area for crafts or hobbies, enjoy the beautiful back yard and furnish you with two complete suites. Plantation shutters in the bedrooms, curtains in living and dining rooms, floating shelves, upgraded ceiling fans and 20'' ceramic tiles throughout, custom paint both in and out, RO water at kitchen and fridge paired with a water conditioner. A whole house air cleaner and solar tube in hallway are nice additions. Cool off in the second suite with a Mini-split remote-controlled air conditioner and enjoy the upgraded kitchen cabinetry with custom made dichroic glass cabinet pulls. More... Cabinet lighting set the mood for great entertaining. Find security doors at the front and pass thru door in the garage. On the outside you will find an expanded, painted and sealed North facing patio area, pavers, custom cook station, large maintenance free pergola, pigeon proofing on roof area, custom gate with deadbolt lock and beautiful low maintenance landscaping complete with a newer irrigation system. Spa, firepit and fridge on patio stays. Extended garage houses storage cabinets, workbench, painted epoxy floor, with plenty of room for your golf cart and two cars. This amazing home has an extra-large lot surrounded by 6-foot block wall. Some furnishings available for sale.

3131 N Central Avenue Phoenix, AZ 85012

$547,000
2 Beds
2 Baths
1,125 SqFt
Status Active
MLS # 6613798
Property Type Apartment
Price Type --
*Construction Completed* 3.5% buyer incentive can be used towards rate buy down, upgrades, closing costs, or combo of those! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.