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.

Click Here to See What Your Home is Worth

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22137 W Cantilever Court Buckeye, AZ 85326

New

$530,000

5 Beds

3 Baths

2,663 SqFt

Status Active

MLS # 6706273

Property Type Single Family Residence

Price Type --

Welcome home to this beautifully updated five bedroom, 2.75 bathroom home . Enormous corner lot with RV gate, pebble tech pool, and firepit. Formal living room and dining room, eat-in kitchen which opens to family room with entertainment niche. Guest bedroom and 3/4 bath downstairs. Upstairs loft and 4 additional bedrooms including the Master Bedroom. Large Master Bedroom with walk-in closet and master bathroom suite which includes double sinks, garden tub and separate shower. Home features energy efficient sunscreens and ceiling fans. Additional features, newer water heater and a/c units, under stairs storage, full length covered patio. Close to schools, shopping and I-10.

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9853 W Tonopah Drive Peoria, AZ 85382

$530,000

3 Beds

2 Baths

1,968 SqFt

Status Active

MLS # 6705672

Property Type Single Family Residence

Price Type --

This gorgeous single level home in North Peoria showcases 1,968 sq ft, 3 beds, 2 baths, den, granite countertops throughout home, stainless steel appliances, vaulted ceilings, family seating room, and updated bathrooms. This home is very clean and well cared for which is noticeable the moment you step inside. The north facing home has a front seating area, rv gate, security doors, low maintenance landscaping, and a dog run. Newer ac, water heater and roof. Updated laminate flooring and carpet throughout. Pride in ownership is evident in this home!

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704 N Gentry Circle Mesa, AZ 85213

$530,000

3 Beds

2 Baths

1,694 SqFt

Status Active

MLS # 6663681

Property Type Single Family Residence

Price Type --

Welcome to your dream home nestled on an oversized cul-de-sac lot! This charming single-story residence boasts an array of desirable features, perfect for comfortable living and entertaining. With 3 bedrooms, 2 bathrooms, and a 2-car carport, this home offers ample space for your family and guests. Upon entering, you'll be greeted by an inviting living room perfect for entertaining. The entire property has undergone a comprehensive remodel from 2018 to the present, ensuring modernity and functionality at every turn. The upgrades are extensive, including a new roof, air conditioning system, and even a sparkling pool, providing the ultimate oasis for relaxation and recreation. Upgraded windows throughout the home offer enhanced energy efficiency and aesthetic appeal. The spacious master bedroom is a sanctuary unto itself, featuring double vanities, large master closet and a private exit to the pool area, allowing for seamless indoor-outdoor living. Additionally, a convenient RV gate adds versatility for your outdoor storage needs. The kitchen is a chef's delight, boasting quartz countertops, sleek cabinets, and stainless steel appliances. An eat-up bar area overlooks the family room, creating the perfect space for casual dining and entertaining. Conveniently located close to shopping, restaurants, and the 60 freeway, this home offers the ideal blend of suburban tranquility and urban convenience. Don't miss out on the opportunity to make this meticulously remodeled residence your own!

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4143 E Walnut Road Gilbert, AZ 85298

$530,000

2 Beds

2 Baths

1,655 SqFt

Status Active

MLS # 6697725

Property Type Single Family Residence

Price Type --

Welcome to Trilogy at Power Ranch, the premier active adult golf course and lake community in Gilbert, Arizona. This 1655sf single level 2 bedroom plus den, 2 bathroom Willow model home by Shea Homes features a formal entryway with oversized great room, an entertainer's kitchen with custom painted cabinets, pull out shelving, breakfast bar seating and room for a full size dining table. With beautiful tile in the master suite, plush carpeting in the bedrooms, and upgraded window coverings throughout, this spacious floorplan has been immaculately cared for and works well as a year round residence or lock and leave vacation property. With a new roof and HVAC unit (2021) you can rest easy, spending more time at the fully equipped clubhouse, two swimming pools and spa, tennis, pickle... ...ball, and bocce sports courts - without worrying about pesky home maintenance and repairs. Situated in this amenity rich gated community, you'll also find a complete fitness center, cafe and a variety of different arts, crafts, clubs, and activities keeping your social calendar as active as you'd like!

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1094 S Agnes Lane Gilbert, AZ 85296

$530,000

3 Beds

3.5 Baths

2,015 SqFt

Status Active

MLS # 6704213

Property Type Single Family Residence

Price Type --

Beautiful Home in Cooley Station with an Open Floor Plan.Gorgeous Tile in All the right places. 3 Oversized Bedrooms with a Loft. 1st Master Suite has 2 Walk-in Closets with a Walk out Balcony to Enjoy Our Arizona Sunsets.Kitchen is Amazing with Upgraded Cabinets, Stainless Steel Appliances, Double Oven Range Microwave/Convection Oven,Gorgeous Granite Countertops. Kitchen Opens to the Family Area with 2 Oversized Sliding Doors that Opens to your Own Private Oasis. Walking Distance to 3 Community Pools/parks, Basketball Courts and so Much More!

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1642 E Monte Vista Road Phoenix, AZ 85006

$530,000

3 Beds

2.5 Baths

1,493 SqFt

Status Active

MLS # 6705584

Property Type Townhouse

Price Type --

***BRAND NEW*** GREEN CERTIFIED***Perfect for the busy professional, these Lock & Leave, Maintenance Free, 11 Single-Family Attached 2-story Townhomes will be move-in ready this Summer 2024. Nestled between Downtown Phoenix & Arcadia, this home is in close proximity to the best restaurants, coffee shops, medical centers, and so much more! They feature an impressive open layout showcasing luxury vinyl plank flooring and modern recessed lighting. The beautiful kitchen boasts pristine white shaker cabinets, stylish tile backsplash, quartz counters, and a peninsula complete with breakfast bar. The primary bedroom features an immaculate ensuite with quartz dual sinks and a walk-in closet. What's not to like at this price-point!?!

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3813 E Captain Dreyfus Avenue Phoenix, AZ 85032

New

$530,000

3 Beds

2 Baths

1,676 SqFt

Status Active

MLS # 6707526

Property Type Single Family Residence

Price Type --

5 Miles from Arizona's wealthiest municipality of Paradise Valley, 3/4 mile to Paradise Valley Mall area w/ shopping & restaurants, Corner Lot, No HOA, Private Pool, Garage AND Carport, New Kitchen w/ granite counters, gas range & shaker cabinetry, both bathrooms remodeled, Newer roof, HVAC and Pool Pump, RV Gate, Covered Patio, Primary Suite has private exit to backyard, Fireplace, and the Pool was just replastered in February!

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5236 N Bobs Bend Road Strawberry, AZ 85544

$530,000

3 Beds

2 Baths

1,184 SqFt

Status Active

MLS # 6571764

Property Type Single Family Residence

Price Type --

This property has so much space for everything and everyone. The main home boasts two bedrooms in the main cabin with an updated kitchen, bathroom, and seating area off the loft. The second home on the property has an extra bathroom and shower with your washer and dryer. The 3rd cabin has plenty of space for bunkbeds or anything you choose to turn it in to. The garage has a loft upstairs and is a perfect space for projects and extra storage. The putting green and extra seating is a great way to enjoy the beautiful sunsets and cool Pine county weather. This property has great VRBO & vacation rental potential. This lot is very large making it easy to turn it into anything you want.

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27524 N Montana Drive Rio Verde, AZ 85263

$530,000

2 Beds

2 Baths

1,730 SqFt

Status Active

MLS # 6607193

Property Type Townhouse

Price Type --

Fabulous townhome in the gated community of Tonto Verde. Located in a quiet cul-de-sac, backing to the beautiful driving range and within a short walking distance to the clubhouse and its amenities. Great room style living with fireplace and walls of windows taking in the backyard views and gorgeous sunsets. Split floor plan with 2 large bedrooms and 2 full baths. Primary bedroom with access to the spacious patio and primary bath with dual vanities, tub, walk in shower and walk in closet. Kitchen with center island and cooktop, breakfast counter and dining that is open to the lush landscaping with floor to ceiling windows. New Interior paint 2024, New roof in 2022, New HVAC in 2020, New Hot water heater in 2022 and New Washer/Dryer in 2020. Oversized 2.5 car garage with golf cart access Community HOA amenities include: Two 18 hole award winning desert style golf courses, Clubhouse with bar, both casual and formal as well as patio dining, Exercise facility, Heated salt water pool with separate lap and spa areas, 18 hole lighted putting course, Bocce Ball with Pickle ball and dog park coming soon! Welcome home!

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1300 W 5th Street Tempe, AZ 85281

$530,000

2 Beds

2 Baths

1,495 SqFt

Status Active

MLS # 6656227

Property Type Townhouse

Price Type --

Experience modern sophistication in the heart of Tempe with this stunning 2-bedroom, 2-bathroom townhouse. Boasting a sleek kitchen outfitted with resilient Silestone countertops and state-of-the-art, energy-efficient appliances, this home combines style with functionality. Indulge in the luxury of the spacious master bedroom, complete with an expansive walk-in closet and adjacent bathroom featuring elegant granite countertops and refined porcelain tile flooring. Revel in the warmth and timeless beauty of hardwood flooring that extends throughout this two-level abode. Bask in natural light streaming through large windows, creating an inviting and vibrant atmosphere. Step outside to unwind in your private back patio oasis or on the tranquil balcony, perfect for leisurely reading or enjoying the serene surroundings. Conveniently located, this townhouse offers easy access to local shopping, entertainment, Arizona State University's campus, and Sky Harbor Airport, ensuring a lifestyle of comfort and convenience.

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4643 E Shapinsay Drive San Tan Valley, AZ 85140

$530,000

4 Beds

2.5 Baths

3,459 SqFt

Status Active

MLS # 6642064

Property Type Single Family Residence

Price Type --

NEED SPACE‼️ Check out this 2 story home in lovely Castlegate subdivision which is One of the largest models - Separate Living & Dining room. Very Large Family room adjoins Large eat in Kitchen w/Stainless Steel appliances an X-TRA Large Island with Granite Counters. Large Walk-in Pantry w/Laundry. Powder room next to Double Door Den/Office with exit to back yard. Upstairs enjoy the spacious approx 19.3 x 16.9ft LOFT. 3 Spacious Bedrooms share Hall Bath (one with walk in closet). Split SUPER-SIZE approx 27.5 x 19ft MASTER ENSUITE with Double Sinks, Separate Tub and Shower and Very Large Walk-in Closet. 2022 HVAC & Water Heater. Garage has Epoxy floors. Covered Patio. A Large Backyard ready for your personal style. Enjoy Parks/Sports courts and close to shoppi

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4354 N Parkway Avenue Scottsdale, AZ 85251

$530,000

2 Beds

2.5 Baths

1,656 SqFt

Status Active

MLS # 6661783

Property Type Townhouse

Price Type --

Charming spacious remodeled townhome in the Heart of Old Town Scottsdale! Minutes from renowned restaurants, Scottsdale Fashion Square, 101 fwy, spring training events and the famous Scottsdale nightlife. Location! Location!! This approved vacation rental property can either be a moneymaker or a perfect home for someone wanting that prime Scottsdale location. Spacious 1656 sq ft 2 bedroom/2.5 bath floor-plan featuring custom upgrades with granite counter tops, a kitchen island, stainless appliances, and full-size washer/dryer. Rare spacious master split bedrooms w/upgraded bathrooms, room floating vanity and walk-in closets. Enjoy your private oversized patio sipping coffee or entertaining friends & family. Come live the Scottsdale VIP Lifestyle or put this MoneyMaker to work for you! Charming spacious remodeled townhome in the heart of Old Town Scottsdale! 5 minutes from all the action: Enjoy renowned restaurants, Scottsdale nightlife, Fashion Square shopping, spring training events and much more. This approved vacation rental property can either be a moneymaker or a perfect home for someone wanting that prime Scottsdale location. Spacious 1656 square foot 2 bedroom/2.5 bath floor plan that features custom upgrades with granite counter tops, a kitchen island, stainless appliances, and a full-size washer/dryer. 1/2 bath downstairs and custom paint. Both bedrooms are very spacious with upgraded bathrooms and walk-in closets. Enjoy your private oversized patio by either sipping coffee, gardening or entertaining friends & family. Come enjoy the Scottsdale VIP Lifestyle!!

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