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

17057 W Echo Lane Waddell, AZ 85355

$649,000

4 Beds

3 Baths

2,529 SqFt

Status Active

MLS # 6776412

Property Type Single Family Residence

Price Type --

The NextGen floor plan is the perfect setup for shared living space - ideal private space for visitors or rentals! Guest quarters with a private entrance as well as garage entry, separate bedroom with walk-in closet, living area, kitchen with full-size appliances, and laundry (stacked washer/dryer included)! Rent out for extra income or house a grandparent or family member/roommate wanting their own space while connected to the main home. This beautiful single-level residence in a desired corner lot of a Gated Community! This gorgeous home offers an immaculate interior with abundant natural light and cozy living spaces for entertaining. The kitchen has plenty of cabinets with crown moulding, quartz counters, recessed lighting, subway tile backsplash, stainless steel appliances, and a peninsula with a breakfast bar ideal for quick meals. Discover the large main retreat featuring plush carpet, an ensuite with dual sinks, sit-down shower, and a walk-in closet. PLUS! This house boasts a bonus room ideal for a media room/office and a fully equipped guest's quarter with a private entry. Out the back, you'll find a private, serene space with a covered patio and artificial lawn for relaxing evenings and conveniently located near grocery shopping, restaurants, just minutes away from 303 and major highways for easy access.You won't be disappointed!

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8442 S 22nd Street Phoenix, AZ 85042

$649,000

4 Beds

3 Baths

2,915 SqFt

Status Active

MLS # 6776403

Property Type Single Family Residence

Price Type --

Welcome to your stunning 4-bedroom, 3-bath home near South Mountain! Enter through a charming front courtyard into a spacious living area w/ soaring ceilings, elegant wood-look flooring, and a captivating stone fireplace. The chef's kitchen features wood cabinetry, luxurious granite countertops, stainless steel appliances, and convenient breakfast bar island. The first-floor primary bedroom offers private outdoor access and a spa-like ensuite with dual sinks and a garden tub. Enjoy breathtaking views from multiple balconies. The air-conditioned 2nd garage is perfect for a workshop or future casita & includes a hidden wall safe. Nearby access to the Mormon Trailhead for outdoor adventures and close proximity to Phoenix amenities, this home perfectly blends comfort, luxury & adventure. Continue upstairs and into the cozy loft w/balcony access, where you can spend a relaxing Sunday afternoon! Secondary bedrooms all come w/plush carpet for added comfort! Lastly, the lovely backyard includes a covered patio, lush natural turf, and a seating area w/a pergola! Your new home is waiting for you, hurry and act now!

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710 E Peoria Avenue Phoenix, AZ 85020

$649,000

3 Beds

3 Baths

1,913 SqFt

Status Active

MLS # 6778988

Property Type Townhouse

Price Type --

Discover Resort-Style Living in the sought-after Community of the Pointe Tapatio at North Mountain. This 3 bedroom/3 full bath home is a 'hidden gem'. Don't miss out on this exceptional property that combines luxurious living with practical design. Comfortable living room and adjacent dining area, ideal for hosting dinner parties. New kitchen with cozy Breakfast Room. An upstairs 'secondary' Master Bedroom Suite with covered Balcony overlooking North Mountain. Beautifully appointed bathrooms with quartz countertops, Moen faucets, and walk-in showers with custom glass doors in two of the three bathrooms. Two stained-glass plus Celestial windows shimmer light throughout the home. Conveniently located to hiking/biking trails, restaurants, boutiques, and the Hilton Pointe Resort. Walk across the street to a Heated Pool and Spa where you can view a magnificent water feature. Home is situated in the Central Phoenix Corridor, the Nexus of the City's Art and Culture scene. Meticulously landscaped with two covered patios and a putting green, creating a serene and inviting environment for relaxation and recreation with family and friends. Easy access to world-class golf courses, downtown Phoenix, and Sky Harbor Airport. Exterior paint in 2023. Roof is 6 years old. A/C System is 5 years old. Move-in Ready!

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5819 N 88th Lane Glendale, AZ 85305

$649,000

5 Beds

3.5 Baths

3,038 SqFt

Status Active

MLS # 6781902

Property Type Single Family Residence

Price Type --

Move-in Ready!! Perfect for large family or in-laws. Clean and fresh home with upgrades throughout. Massive open floor plan with entertainment in mind. Luxury kitchen with white cabinetry, granite countertops, large island, stainless appliances, upgraded tile flooring and pantry opens to the massive family room with plantation shutters throughout. Owner's suite, guest bedroom w/ensuite and den on main floor. Three spacious bedrooms upstairs with a large loft. Calming neutral palate and central vacuum system throughout. Tankless water heater, sink and EV charger in garage. New maintenance free back & front yards with pavers and artificial turf. Wait no longer--your dream home awaits!!

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5721 N 13th Street Phoenix, AZ 85014

$649,000

3 Beds

2 Baths

1,213 SqFt

Status Active

MLS # 6782306

Property Type Single Family Residence

Price Type --

This beautifully remodeled ranch-style home, located in the desirable north central corridor, offers 3 bedrooms and 2 bathrooms. Completely renovated in 2022, it boasts an open floor plan, custom cabinetry, stainless steel appliances, a gas stovetop, and a large center island - perfect for both cooking and entertaining. Both bathrooms have been tastefully updated. The home is adorned with new wood-look plank tile throughout, The backyard is a true retreat, complete with a large covered patio and a newly installed heated pool. Additional features include dual-pane windows, recessed lighting, a new AC unit (2022), new shutters, completely updated plumbing and electrical systems. located near the area's best dining and the highly sought-after Madison schools.

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5115 E Zenith Lane Cave Creek, AZ 85331

$649,000

3 Beds

2 Baths

1,861 SqFt

Status Active

MLS # 6784366

Property Type Single Family Residence

Price Type --

This 3/4 acre lot has a single level 1,861 sqft., 3 bedroom/2 bathroom home and a detached 4 car garage with room to add on. Move in or put your own custom touches on it and enjoy your expansive lot with natural Arizona landscape including Saguaro's, fruit trees and mature trees. Park your RV on the lot and store your toys in the extended length area of the garage. Set in a great location in Cave Creek and not far from the shopping, restaurants and nightlife in famous Carefree.

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1800 N 156th Drive Goodyear, AZ 85395

$649,000

3 Beds

3 Baths

2,558 SqFt

Status Active

MLS # 6782725

Property Type Single Family Residence

Price Type --

Check out that marble flooring! What a Grand entrance into this immaculate 3-bedroom, 3 bath home located in a cul-de-sac lot near a playground. This home features plantation shutters, a kitchen to delight any picky chef with so much space and extended granite counter tops to include a large enough breakfast bar to seat the family. The guest suite features a separate living space with living area, which includes separate washer, dryer hooks ups and separate bed and bath. To top it off the backyard is a blank canvas for completing your entertainment dreams.

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1424 E Coronado Road Phoenix, AZ 85006

$649,000

3 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6784755

Property Type Single Family Residence

Price Type --

Stunning 1700 Sq. Ft. (1412 main; 288 detached office) Spanish Craftsman Revival in Coronado. Fully renovated with 3 spacious bedrooms, 2 bathrooms, large dining room and brand New kitchen cabinets, countertops and backsplash. New updates include a brand new AC unit, Low-E Premium dual pane windows from Anlin, premium vinyl flooring, newer water heater, New 200Amp electrical panel, New copper electrical wiring with grounding in the entire house, new exterior and interior paint, and New ABS plumbing and sewer lines throughout the house and all the way outside to clean-outs. Both bathrooms have been remodeled with new flooring, cabinets and shower tile. No detail left untouched! +++This home includes a detached 288 Sq Ft office/studio/gym/yoga studio with a moving glass wall, 10 foot wide bi-fold door perfect for allowing the outdoor elements In when weather permits. Premium vinyl flooring and separate mini split AC unit. The attic has been closed and insulated.

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17698 E Bismark Lake Court Rio Verde, AZ 85263

$649,000

2 Beds

2 Baths

1,544 SqFt

Status Active

MLS # 6765532

Property Type Townhouse

Price Type --

Enjoy MOUNTAIN VIEWS and brilliant SUNSETS in this LUXURY RESORT COLLECTION Evia Floor Plan with SLIDING WALL OF GLASS and covered private terrace in the heart of coveted Trilogy at Verde River! Available FULLY FURNISHED this Spacious, WIDE OPEN yet efficient floorplan features 2 beds/ 2 baths and a SEPERATE DEN area. The unique location is adjacent to natural open space & beautifully maintained common area. Sophistication, Style & Elegant finishes throughout! COVERED PATIO perfect for entertaining. Kitchen DAZZLES w/WHITE CABINETS and sleek countertops! Stunning upgraded wood look tile flooring throughout. The new interior is bright and features today's favorite finishes. Other notable upgrades include New BOSCH dishwasher, Custom Closet, New Water Purification system and much more. Experience the ultimate in Luxury Living! Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

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3233 S Lebanon Lane Tempe, AZ 85282

$649,000

3 Beds

2 Baths

1,626 SqFt

Status Active Under Contract

MLS # 6717336

Property Type Single Family Residence

Price Type --

Welcome to your new home in Tempe! This fully remodeled property has brand new flooring, gray quartz waterfall countertops, white shaker cabinets, new fans, and modern finishes throughout. The roof has a 5-year no-leak warranty, 20-year underlayment, and lifetime shingle warranty. Outside, enjoy a covered patio and a sparkling diving pool on a spacious lot. The home also features a newer AC and furnace, shingles replaced in 2018, no HOA, and excellent nearby schools. Visit this weekend before it's gone—homes in 85282 at this price don't last! The property includes 1,466 sq. ft. plus a 160 sq. ft. attached laundry room.

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235 W Liberty Lane Payson, AZ 85541

$649,000

3 Beds

2 Baths

1,378 SqFt

Status Active Under Contract

MLS # 6751212

Property Type Single Family Residence

Price Type --

Rural living but close to town amenities! Suburban ranchette features 2.65 acres fenced and cross fenced for horses and other live stock. Fenced organic garden area and orchard. Numerous storage buildings, fenced chicken compound with coup, tack shed, large craft/work shed, oversized two car garage. Private well on property, plus an interest in Community well. Round pen set up with walker.

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16234 E Links Drive Fountain Hills, AZ 85268

$649,000

2 Beds

2 Baths

1,878 SqFt

Status Active Under Contract

MLS # 6766788

Property Type Apartment

Price Type --

You'll love this 2 bed, 2 bath PLUS office single-level condo with golf course views & 2 car garage in Balera at Firerock! Step inside to an open greatroom with high ceilings. The kitchen is the heart of the condo with walls of cabinets, large island, stainless appliances, granite counters & tile backsplash. The main bedroom also has golf course views & large ensuite bath with dual vanity, soaking tub, walk-in shower & ample walk-in closet. The guest bedroom is split & offers direct access to the guest bath - making it a mini-ensuite. The 3rd room has pocket doors-perfect for office, bedroom or hobby room. Relax inside or on your patio while taking in the views of Firerock Golf Course. All this plus the gated lock-and-leave Balera Lifestyle with community pool & fitness room! View today!

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