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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

17775 E Veit Springs Drive Rio Verde, AZ 85263

$1,375,000

3 Beds

3.5 Baths

2,681 SqFt

Status Active

MLS # 6760283

Property Type Single Family Residence

Price Type --

Absolutely stunning newly built SHEA HOMES property with endless on-trend features located in the 55+ gated Trilogy at Verde River community. This massive 9567 sqft golf course lot has breathtaking mountain views of Four Peaks and no rear neighbor for optimal privacy. As you approach you are greeted by a relaxing private courtyard with a charming stacked stone fireplace. The chef's kitchen has a formal eat-in area and boasts custom cabinetry, stainless appliances, granite counters, large island with breakfast bar, backsplash, wine fridge, R/O system, and a gas cooktop with hood. Relax in the spacious great room with oversized sliding doors to create the perfect indoor/outdoor space for entertaining. The luxurious master suite has a private patio slider, large walk-in closet, and a full bathroom with dual sinks and a walk-in shower with glass enclosure. Other features include Smart Home technology, gas water heater, home office den, owned water softener, laundry space with built-in desk, 3 car garage, and an underground 250 gal propane tank. Utilize the separate guest casita as the perfect spot for hosting family or friends. The resort style backyard has a sparkling heated pool and spa, wrought iron view fence, faux grass lawn, raised fire pit seating area, and a large covered patio with a custom heater, privacy screen, mounted TV, and a full BBQ kitchen area. Don't miss out on this perfect property that has everything today's market seeks!

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7055 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000

3 Beds

3 Baths

1,687 SqFt

Status Active Under Contract

MLS # 6748816

Property Type Single Family Residence

Price Type --

This gorgeous Novus plan has been completely transformed by the talented crew at Scottsdale Investment Props. All new everything from the cabinets to the floors & counters this split plan great room home has high flat ceilings w/large pocket door for indoor/outdoor living AND detached casita. Located on a south facing lot backing open space & a quick walk to the club makes this an ideal location far from any busy streets. Finishes are top notch including engineered hardwood & tile floors, raised panel 42'' cabinets w/hardware, satin plumbing fixtures, quartz counters, custom gas fireplace w/large format tile surrounds, ceiling fans, LED lighting throughout, ss appliances, etc. Back yard features covered patio, fire pit, b-in bbq, & tiled decking w/low maintenance landscaping.

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14810 E Valley Vista Drive Fountain Hills, AZ 85268

Open House

$1,375,000

3 Beds

2.5 Baths

2,742 SqFt

Status Active

MLS # 6783943

Property Type Single Family Residence

Price Type --

New Build from the Ground Up! This single-story new build home will be starting construction in Summer 2024 and be completed for move in Fall 2025. This open floorplan showcases the protected easement behind the home with 8' windows and 12' ceilings. Amazing canyon views! Select your finishes and build your dream home now.

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2190 E Nolan Place Chandler, AZ 85249

$1,371,587

4 Beds

3.5 Baths

3,610 SqFt

Status Active

MLS # 6755382

Property Type Single Family Residence

Price Type --

Quick Move-in Ready Home! McKinley Glenn is an intimate gated enclave of luxury single-level homes offering modern home designs by Cachet Homes. This Aspire Plan 1 is situated on a North/South lot and features 3,610 SF, 4 bedrooms, 3.5 baths, a 4-car garage, den, and an open-concept kitchen with two large islands and quartz countertops. Additional upgrades include desert front yard landscaping, Shaker Maple painted and stained cabinets, luxury vinyl plank wood look floors, and more!

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20478 E Marsh Road Queen Creek, AZ 85142

Open House

$1,370,995

5 Beds

4.5 Baths

4,004 SqFt

Status Active

MLS # 6766178

Property Type Single Family Residence

Price Type --

Spectacular open floor plan with attached casita! An oversized pantry and expansive kitchen island create an entertainer's paradise! The soaring ceilings in the kitchen and great room are open and airy, taking you right out to your generous back yard through stacking multi-slide doors! This large North-South home site is perfect to capture the coveted Arizona indoor/outdoor lifestyle!

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915 W Ardmore Road Unit 11 Phoenix, AZ 85041

$1,370,000

4 Beds

4 Baths

2,870 SqFt

Status Active

MLS # 6783771

Property Type Single Family Residence

Price Type --

The model most aligned to the traditional farmhouse, the Joplin offers a uniquely intimate space that divides naturally into two wings. Three garage bays Formal front porch 3-5 Bedrooms Gen suite option available Master backyard available Large attic available

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2304 E Blue Bell Circle Payson, AZ 85541

$1,370,000

4 Beds

4 Baths

3,842 SqFt

Status Active

MLS # 6744402

Property Type Single Family Residence

Price Type --

*Please view the video tour, 3D walk-though tour and documents to see all this home has to offer* Welcome to your dream home in the beautiful guard gated community of Chaparral Pines Golf Country Club. This stunning residence exudes luxury, function and comfort, offering an impressive array of updates and features that cater to your every need. As you enter the main level, you are welcomed into a spacious and open living area. The living room, dining room, and kitchen are thoughtfully connected, creating a harmonious flow that is perfect for entertaining. The natural light floods in through windows with cellular shades, highlighting the elegance of the gas fireplace and creating a warm, welcoming atmosphere. The primary suite on the main level is a true sanctuary with its expansive seating area, sliding door access to the deck, and walk-in closet. The en-suite bathroom featuring a large shower with dual shower heads and body jets, a built-in tub, dual vanities with a makeup area and ample linen storage. On the opposite side of the main floor, a guest room offers privacy and comfort, complete with direct access to a bathroom that also serves the hall and access to the deck. The laundry room is designed for convenience with a utility sink, countertop space and storage, leading directly to the 2-car garage, golf cart garage and workshop, all with epoxy flooring. Venture to the lower level to discover a spacious setup, perfect for guests, extended family and entertaining. This level features a comfortable guest room with direct access to a bathroom also acting as guest bathroom and an oversized guest suite with an ensuite bathroom plus generous seating area. The office is thoughtfully equipped with two built-in desks, functional storage including a closet making it ideal for working from home. The kitchenette, with a fridge/freezer, dishwasher, sink, and microwave, provides everything you need for relaxed living. A sliding door opens to the patio, where an above-ground spa invites you to unwind. Situated on a large corner lot between two cul-de-sacs, this home offers views of the mountains and the golf course from the upper deck. Please view documents tab for a list of all improvements and additional information. This exceptional home in Chaparral Pines is more than just a place to live; it's a lifestyle. Experience the elegance, comfort, and community this remarkable property offers. Don't miss the opportunity to make it yours! *Owner had a pre-listing inspection completed and are happy to provide that information.

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13736 E Wethersfield Road Scottsdale, AZ 85259

Open House

$1,370,000

4 Beds

2.5 Baths

2,782 SqFt

Status Active

MLS # 6767393

Property Type Single Family Residence

Price Type --

Welcome to luxury living in Scottsdale Mountain! This open concept floor plan is updated with high end finishes through out each room. The home's natural light shines in every window allowing for breathtaking mountains views to be soaked in daily with each of Arizona's famous sunrises. Complete with a chef's kitchen, huge waterfall island, Bosch and Viking appliances, this space allows you to create and entertain family and friends! The kitchen and living spaces flow seamlessly to the homes expansive covered outdoor patio to allow for more indoor/outdoor living. Outside features include a built in BBQ, oversized pool with two waterfalls and a poolside fire feature! The primary bedroom is very spacious offering a spa-like bathroom, soaking tub and more! The secondary bedrooms the flexibility to fit your needs. I'd love you show you around! Thank you for your interest!

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4281 Leaf Spring Drive Wickenburg, AZ 85390

$1,360,000

3 Beds

3.5 Baths

2,767 SqFt

Status Active

MLS # 6743738

Property Type Single Family Residence

Price Type --

This exquisite Shea Latigo residence, located on the golf course, offers breathtaking views of Vulture Peak and the Weaver Mountains. Nestled on a large cul-de-sac lot adjacent to common areas, this home provides both privacy and picturesque scenery. You'll be captivated by the oversized patios featuring a built-in BBQ, pizza oven, and a majestic rock fireplace—ideal for entertaining or simply enjoying a tranquil evening. No expense was spared in crafting this remarkable home, where every detail has been thoughtfully designed. Upon entering, you'll be greeted by a sophisticated den complete with a built-in wine cabinet, perfect for relaxing with your favorite vintages. The gourmet kitchen is a chef's dream, boasting upgraded appliances including wall ovens, a gas range top, a stainless-steel vent, granite countertops, and a stunning limestone backsplash. The expansive living room showcases a dramatic rock fireplace and accent wall, creating a cozy yet elegant atmosphere. Glass sliders seamlessly connect the indoor living space to the outdoor patios, enhancing the flow and making indoor-outdoor living a breeze. High-end wood and tile flooring, coupled with stylish chandelier lighting, add a touch of luxury throughout the home. The master suite is a true retreat, featuring two walk-in closets and a lavish bathroom with a walk-in shower and a soaking tub. Glass doors open directly to the patio, providing a serene private escape. The guest bedroom is generously sized and includes its own patio exit, while the guest bathroom offers ample space and comfort. The charming courtyard is perfect for gatherings, featuring pavers, a massive rock fireplace, a shade screen, and extensive entertainment space. The separate casita provides an ideal space for guests, with a spacious living area, a full bathroom, and a walk-in closet. Additional highlights include a large laundry room that doubles as an office with ample cabinetry for storage, and an extended-length garage providing extra room for additional storage needs. This Shea Latigo home in Wickenburg Ranch offers unparalleled luxury, comfort, and style.

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3816 E Fairfield Street Mesa, AZ 85205

Open House

$1,359,000

4 Beds

4.5 Baths

4,333 SqFt

Status Active

MLS # 6754099

Property Type Single Family Residence

Price Type --

Welcome to luxury living in the highly sought-after gated community of Trovita Norte in Mesa, Arizona! This stunning 4,333 sq. ft. estate boasts 4 bedrooms and 4.5 bathrooms, offering the perfect blend of elegance and comfort on a spacious corner lot with RV gate access. Step inside to an inviting courtyard that leads to a grand formal dining room and an expansive great room featuring a full wall of custom built-in cabinetry. The gourmet kitchen is a chef's dream, complete with high-end appliances, a gas cooktop, double ovens, a massive island, and a cozy breakfast nook, all perfectly designed for entertaining and family gatherings. The multi-purpose room, with a large storage closet, is ideal for a variety of uses, while two generously sized bedrooms, each with walk-in closets and en-suite bathrooms, provide privacy and comfort for guests. The master retreat is a sanctuary of its own, featuring direct access to the backyard, his-and-hers closets, a luxurious spa-like bathroom with a walk-in shower, freestanding tub, and dual vanities. Additionally, there is a sophisticated den/office complete with custom built-in cabinetry. A guest suite with serene backyard views completes the interior, but the true gem lies beyond the double sliding doors. Step out to your private oasis with travertine flooring, a sleek modern pergola equipped with a misting system, and a built-in outdoor kitchen island perfect for al fresco dining. The resort-style backyard includes a diving pool with a cascading fountain, a waterslide, a basketball hoop, and a cozy fire pit. The beautifully manicured landscape, including a lush turf area, offers both tranquility and space for outdoor fun. Additional highlights include a 4-car garage with epoxy flooring, built-in cabinets, a tool area, and ample parking for all your toys. This home is a rare find that combines modern luxury with timeless design in one of Mesa's most prestigious communities.

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5547 E Olesen Road Cave Creek, AZ 85331

$1,355,000

4 Beds

3.5 Baths

3,038 SqFt

Status Active

MLS # 6763491

Property Type Single Family Residence

Price Type --

Almost Complete - Contemporary NEXTGEN Builders home: 4BD +office/den, 3.5 Bath, high-quality luxury with many upgrades. Oversized 2-Gar with attached 47' RV Gar with 12x14 RV door, on 1 acre lot. No HOA, paver front sidewalk & driveway apron with concrete driveway, large kitchen island, upgraded SubZero/Wolf Appliance Pkg:, Gas Range, Microwave Drawer, 48'' Subzero built-in Refrigerator, Quartz counter tops throughout. Many upgrades, all bedrooms have walk in closets. Owner's bath has large entry shower with a standalone tub and double sinks. 12 Ft ceiling in great room and 8' doors throughout, nicely finished. Energy efficient Spray foam insulation, 2x6 framed and fully sheathed exterior, post tension foundation, Pictures are from a completed model home. Buyer to verify all facts.

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3888 E Weston Lane San Tan Valley, AZ 85140

$1,350,000

4 Beds

3.5 Baths

3,543 SqFt

Status Active

MLS # 6784720

Property Type Single Family Residence

Price Type --

Welcome to your dream home in San Tan Valley! This stunning new build is truly a great opportunity, offering 4 bedrooms and 3.5 bathroom. Situated on a spacious 1.25 acre lot with no HOA, this property is perfect for those looking for their own piece of paradise. Featuring builder upgrades throughout and front landscaping included, this home will boast a luxurious feel from the moment you step inside. The open concept floor plan is perfect for entertaining guests. This property is also horse friendly, making it ideal for equestrian enthusiasts. And with a generous 4 car garage, there's plenty of room for all your vehicles and toys. Don't miss out on this incredible opportunity to own a slice of Arizona heaven. Finishes available upon request. Estimated completion is February 2025.

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