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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18983 N 259th Lane Buckeye, AZ 85396

New

$459,000

2 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6694613

Property Type Single Family Residence

Price Type --

Better than New, immaculate Hideaway Model with Smart Home Features. 2-bed/2-bath, split floor plan w/ upgraded plank tile flooring and ''leather'' granite countertops. Designer light fixtures & custom window treatments. Open concept living offers plenty of room for dining & entertaining. Extended height, soft close cabinets, SS appliances & walk-in pantry. The spacious primary bedroom has a large bathroom, dual sinks, walk in shower & walk-in closet. Charming guest bedroom w/adjacent bath. Enjoy the beautiful landscape from the extended back patio with privacy wall and pavers. 2 car garage with tandem 4ft extension, great for a golf cart, or additional storage. Additional features: Soft water system, tankless water heater, security door, additional iron fencing with gate access on both sides of the house. Front & backyard pavers & drip system for landscaping. Sun City Festival is an active adult community with plenty of activities. Complete gym, pickleball court, group classes, 27-hole golf course, 2 resort-style pools, onsite rec center, walking trails, and an indoor walking track. Don't miss the opportunity, come see this home today.

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8723 E Sandtrap Court Gold Canyon, AZ 85118

$459,000

2 Beds

2 Baths

1,812 SqFt

Status Active

MLS # 6553229

Property Type Townhouse

Price Type --

Price reduction and seller willing to do below market rate seller financing. Contact agent for details. Welcome to this beautiful 2-bed, 2-bath Townhome in the gated Fairway Views! A paver courtyard and a 2-car garage w/attached cabinets are just the beginning. Inside the previous owner completely remodeled the interior of this home in 2021. New vinyl flooring, interior paint, custom Stone Creek cabinets in kitchen, bathrooms, laundry, and dry bar. New quartz countertops with travertine backsplash, baseboards, doors, custom showers and bathtub, new water heater/RO/water softner and Pella sliding doors. New light fixtures/fans, faucets and supply lines, Whirlpool print resistant appliances, Zephyr wine and beverage cooler with separate temperature settings and lots more! Home has desirable open layout, layered crown molding, a skylight, neutral paint and tons of natural light. Master bedroom has backyard access and an ensuite with dual sinks, travertine step-in shower, & a walk-in closet. Secondary bedroom also includes a private bathroom for added comfort. Enjoy the private backyard offering a covered patio, pavers, built-in BBQ, & exterior fireplace for chilly nights! You MUST see it!

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3007 E Woodland Drive Phoenix, AZ 85048

$459,000

3 Beds

2 Baths

1,242 SqFt

Status Active

MLS # 6614031

Property Type Single Family Residence

Price Type --

NEW ROOF March 2024! Welcome to Mountain Park Ranch! This gem won't be around long, so be sure to plan your visit today! The seller has taken great care and added many improvements such as the kitchen renovation in 2017, the master bathroom remodel was completed in 2023, and the exterior was painted in 2020! The property is North/South facing, has an RV gate, is a corner lot and nearby the 202 freeway for an easy commute! The community offers lakes, parks, walking paths, there are multiple community pools nearby, and the house is kitty corner from Vista Canyon Park! There is plenty of shopping nearby such as Trader Joes, Dutch Brothers, Starbucks, Frys grocery store along with plenty of dining options!

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12002 N Rio Vista Drive Sun City, AZ 85351

$459,000

2 Beds

2 Baths

1,999 SqFt

Status Active

MLS # 6629615

Property Type Single Family Residence

Price Type --

WELCOME HOME TO THIS BEAUTIFULLY REMODELED TWO BEDROOM TWO BATH HOME. LOOKIG FOR AN ENTERTAINER'S KITCHEN BOASTS GRANITE COUNTER TOPS, UPDATED APPLIANCES, INDUCTION STOVE TOP, TONS OF STORAGE, KNOTTY ALDER CABINETS. THE BATHROOMS HAVE BEEN UPDATED WITH BEAUTIFUL WALK IN TILE SHOWERS. ENJOY THE BEAUTIFUL GOLF COURSE VIEWS AND SUNSETS IN YOUR SCREENED IN PATIO. ALL MAJOR TICKET ITEMS HAVE BEEN REPLACED WITHIN THE LAST 3 YEARS.

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