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

4414 N 29th Street Phoenix, AZ 85016

$2,999,000

4 Beds

4.5 Baths

4,597 SqFt

Status Active

MLS # 6785885

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the sought-after Biltmore neighborhood of Phoenix, AZ. Estimated to be completed in January of 2025, this contemporary property redefines modern living with its striking design, unparalleled features, and luxurious amenities. Situated on an expansive 13,000 square foot lot, this residence offers an impressive 4,600 square feet of meticulously crafted living space. From the moment you step inside, you'll be captivated by the seamless blend of sophistication and functionality. This home has a unique feature like no other: a certified bomb shelter. This versatile space presents endless possibilities, from a high-end wine cellar to a state-of-the-art card or multimedia room, offering a touch of exclusivity that will surely impress. With 4 spacious bedrooms and 4.5 opulent bathrooms, the property provides ample room for relaxation and entertaining. The modern design is enhanced by Sub-Zero/Wolf appliances, high-end light fixtures and faucets, reflecting a commitment to quality and luxury. The open-concept layout ensures a fluid transition between living spaces, while large windows invite abundant natural light, highlighting the home's sleek lines and contemporary finishes. Located just moments from the best shopping and dining Phoenix has to offer, this home not only offers an exceptional living experience but also places you at the heart of a vibrant community. Don't miss the chance to own this extraordinary property that blends modern elegance with unique features. Reach out today and discover the endless possibilities of this stunning Biltmore residence.

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8599 E Sand Flower Drive Scottsdale, AZ 85266

$2,999,000

4 Beds

4.5 Baths

5,070 SqFt

Status Active

MLS # 6784552

Property Type Single Family Residence

Price Type --

From the moment you arrive at this stunning North Scottsdale estate, the inviting front courtyard sets the tone, featuring a serene fountain and a cozy gas fireplace. The grand entrance leads you into an elegant formal living room and dining room, both designed to capture breathtaking views through picture windows that showcase the expansive backyard and iconic Pinnacle Peak. Flowing from these spaces, with zero steps throughout the home, a beautifully appointed chef's kitchen with a top-of-the-line Thermidor gas stove, dual built-in ovens, built in refrigerator, freezer, a spacious walk-in pantry, and elegant granite countertops. Expansive kitchen counters, running the length of the room, include convenient refrigerator drawers near the kitchen dining and back entrance perfect for grabbing a drink on your way out The spacious primary suite is a true retreat, featuring two large walk-in closets and an incredible spa-like bathroom with a large walk-in shower. The home also offers three additional ensuite bedrooms, ensuring comfort and privacy for guests, along with a dedicated office perfect for remote work. Step outside to your spectacular backyard oasis, complete with a built-in BBQ, a cozy fire pit, and a heated swimming pool. Surrounded by mountain views and breathtaking Arizona sunsets, this outdoor space invites you to relax, entertain, and enjoy the beauty of North Scottsdale. Perfectly located near the upscale shopping and dining of Kierland and Scottsdale Quarter, and close to the vibrant communities of Cave Creek and Carefree, this home offers unmatched luxury and convenience. Schedule your private showing today to experience this extraordinary home for yourself. Some of the home's features Whole house water filtration Sonos Security cameras and system Gas Pool Heater Putting or Bocce in backyard

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8535 E Regina Circle Mesa, AZ 85207

$2,999,000

5 Beds

5 Baths

6,025 SqFt

Status Active Under Contract

MLS # 6722214

Property Type Single Family Residence

Price Type --

Hillside mountain masterpiece home that is beautifully situated on a cul-de-sac lot featuring 5 bedrooms and 5 bathrooms. This amazing layout has two master suites. The Gorgeous remodeled gourmet kitchen features a walk in pantry, built in appliances including a 48 inch gas cook top, dual wall ovens, built in ice maker and so much more. Enjoy the media room, office and huge family room with wall of glass to the back yard. You will love the Soaring 20+ foot ceilings, plus the beautiful stone and brick accents throughout. This open floor plan has new large format porcelain floors, all new base boards plus all new bathrooms. This home has a fabulous layout for entertaining! The backyard features a mosaic tile pool and spa, plus a huge outdoor kitchen with built in bar and BBQ. Enjoy sunsets and the putting green plus fabulous mountain views. front courtyard offers amazing sunsets and city light views plus a beautiful fireplace and don't forget the loft offering beautiful views of the valleys. so much to see and enjoy and plus this home is MOVE In READY!

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6924 E Stagecoach Pass Carefree, AZ 85377

Open House

$2,999,000

3 Beds

3.5 Baths

4,400 SqFt

Status Active

MLS # 6755398

Property Type Single Family Residence

Price Type --

On the southeast side of Carefree's Black Mountain. This hillside landmark residence was designed by the legendary Carefree architect Gerry Jones. One of a kind desert contemporary home with stunning views of the Boulder pile, Pinnacle Peak, McDowell Mountains, and city lights. Only a block from the Boulders resort. Private gate. No HOAs. Nestled in the boulder outcroppings. You will find the pool and outdoor spaces in the most private setting with amazing mountain and city lights views. The home has been designed with such harmony w/ nature and seamlessly blending the living space to the outdoors. Lots of recent upgrades & improvements. You will be impressed and captivated. Rare opportunity to own an iconic residence. Perfect private vacation golf getaway or year-round residence

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4849 N Camelback Ridge Road Scottsdale, AZ 85251

$2,995,000

2 Beds

2.5 Baths

2,157 SqFt

Status Active

MLS # 6636465

Property Type Apartment

Price Type --

Tucked at the base of revered Camelback Mountain, Ascent is a new, private residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. This community incorporates the Sonoran Desert landscape directly into its design, at the most enviable location in Scottsdale. Ascent offer views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, Provenza wood floors, Sub Zero Wolf appliances & 10' ceilings.

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10040 E Happy Valley Road Unit 243 Scottsdale, AZ 85255

$2,995,000

3 Beds

2.5 Baths

4,320 SqFt

Status Active

MLS # 6737328

Property Type Single Family Residence

Price Type --

Step into elegance with this beautifully remodeled home featuring three significant upgrades. A long, private driveway welcomes you to an open-concept space with soaring 30 ft. ceilings, large windows, and sliding glass doors that frame breathtaking mountain views. The property includes two custom-designed water features and a spacious deck, perfect for entertaining. The Desert Highlands community offers unparalleled amenities, such as a Jack Nicklaus signature golf course, a comprehensive tennis center, pickleball courts, a fitness center, and a luxury country club.

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24882 N 124th Street Scottsdale, AZ 85255

$2,995,000

3 Beds

3.5 Baths

3,939 SqFt

Status Active

MLS # 6761816

Property Type Single Family Residence

Price Type --

Discover your dream home in the prestigious Troon North, renowned for its exceptional desert golf experience. This stunning newly built residence boasts 3,939 sqft of sophisticated living space on a sprawling 1.68-acre cul-de-sac lot. Step inside to find an expansive open floor plan featuring a great room setup, ideal for modern living and entertaining. The layout includes 3 bedrooms with on-suite luxurious bathrooms, with upgraded tile flooring and exquisite cabinetry. The chef's kitchen is a culinary haven, equipped with a Wolf stove, a Subzero fridge and a butler's pantry with a bar counter right next to the dining room perfect for creating gourmet meals while enjoying the company of family and friends. The master suite is a true sanctuary, featuring a custom closet and an a master bathroom that has been thoughtfully designed with a separate tub and walk-in shower. Additional features include a bonus room that could also be used as a bedroom, with at attached den. Enjoy the practicality of an oversized garage with epoxy flooring, added garage closets, and a convenient drop zone. The professionally landscaped backyard is a private oasis, complete with a sparkling swimming pool, BBQ area, and extensive hardscape for entertaining.

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36975 N Mirabel Club Drive Scottsdale, AZ 85262

$2,995,000

4 Beds

4.5 Baths

4,002 SqFt

Status Active

MLS # 6764283

Property Type Single Family Residence

Price Type --

VERY RARE 4 bed, 4.5 bath plus flex room golf villa in the Mirabel Club w/ an even more rare 3 car garage and access to a FULL GOLF MEMBERSHIP per club bylaws & application approval. This home has extensive upgrades inside & out. The spacious master suite has 2 walk-in closets & a cozy fireplace and large sitting room. Enjoy the large open, split floor plan & separate entry guest casita. Each bedroom has its own ensuite bath. The great room has a stone fireplace and vaulted ceilings with wood beams. The kitchen is complete with Wolf/Subzero/Cove appliances, custom cabinetry, large walk-in pantry, & custom granite. Multiple sets of cedar French doors bring the outside in. The private backyard backs up to open space w/ mountain views. The pool & spa includes 3 soothing waterfalls.

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8742 E Villa Cassandra Drive Scottsdale, AZ 85266

$2,995,000

5 Beds

5.5 Baths

4,464 SqFt

Status Active

MLS # 6769643

Property Type Single Family Residence

Price Type --

Enjoy the lap of luxury in this beautiful 4,500 sq ft gated desert oasis property complete with 5 bed 5.5 baths with an attached casita. Sitting on almost an acre this home truly highlights what it means to enjoy the indoor outdoor lifestyle of North Scottsdale. With an incredible low maintenance resort style backyard with heated pool and spa as well as a custom built in BBQ that will extend those pool days into a perfect meal under the stars. Complement all of this with a private courtyard and fireplace plus an oversized 3 car garage, your search just might be over

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21326 E Stacey Road Queen Creek, AZ 85142

$2,995,000

3 Beds

3 Baths

4,141 SqFt

Status Active

MLS # 6771121

Property Type Single Family Residence

Price Type --

Welcome to your dream oasis! This stunning 3-bedroom, 2.5-bathroom home, nestled in Arizona's highly desired aviation neighborhood, Pegasus airpark, offers a perfect blend of luxury and functionality. Inside the 52' x 52' hangar you can park your aircraft with space to fit all of your toys! Step inside the home to be captivated by the meticulous attention to detail and premium features that define this residence, including an office with views of the San Tan mountains, a theatre room, a gourmet kitchen and a resort style owners suite with a private workout room, Outside into your private oasis - the backyard is an entertainer's paradise. Enjoy a game of pickleball on your private court, relax in the above-ground spa, or cool off in the pool. You won't want to miss this incredible home!

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4407 N 37th Way Phoenix, AZ 85018

$2,995,000

5 Beds

5.5 Baths

4,192 SqFt

Status Active

MLS # 6774889

Property Type Single Family Residence

Price Type --

Welcome to your dream home in one of Arcadia's most desirable gated neighborhoods. This timeless residence masterfully blends classic elegance with modern design, featuring numerous custom upgrades throughout. This expansive 5-bedroom, 5.5-bathroom home includes a luxurious first-floor primary suite, each bedroom boasting its own en- suite bathroom for ultimate comfort and privacy. The loft area provides additional space for relaxation or entertainment. Step inside to discover custom millwork, an elegant iron staircase, and striking iron beams that enhance the home's architectural beauty. Soaring ceilings create an airy ambiance, complemented by high-end custom hardware, fixtures, and window treatments. The garage features a 220-volt outlet, perfect for EV charging. Nestled on a completely private cul-de-sac lot with north-south exposure, this home offers abundant natural light and breathtaking mountain views. The two distinct backyards are designed for relaxation and entertainment, complete with a sparkling pool, cozy fireplace, two custom-built pergolas, a misting system, built-in BBQ, and lush artificial turf. The chef's kitchen is a culinary dream, equipped with top-of-the-line Subzero and Wolf appliances, a spacious eat-in area, and a large islandideal for gatherings and family meals. Located just a short walk from popular spots like La Grande Orange, Postino, Ingo's, and Chelsea's Kitchen, this home offers not just luxury but also a vibrant lifestyle. Don't miss your chance to own this exquisite property in the heart of Arcadia!

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3221 Dick Hevly -- Flagstaff, AZ 86005

$2,995,000

6 Beds

3.5 Baths

4,699 SqFt

Status Active

MLS # 6782522

Property Type Single Family Residence

Price Type --

This architecturally significant post-and-beam home, crafted by the renowned Deck House/Acorn Deck House Company, embodies the mid-century mountain modern aesthetic. Showcasing beautiful teak and mahogany wood accents throughout, the residence offers floor-to-ceiling glass walls that fill every space with an abundance of natural light. With its thoughtful design, this home delivers an enchanting Ponderosa pine ''treehouse'' feel, perched above the #9 green of the Canyon Course and spanning just under an acre in a serene cul-de-sac. Inside, a striking tongue-and-groove wood ceiling crowns the open great room, providing an inviting and expansive setting. A dedicated game room, complete with a wet bar, accompanies three fireplaces and two laundry rooms for added convenience. This home boasts a new roof installed in 2016, alongside substantial interior updates completed between 2018 and 2019, including a fully refreshed kitchen, upgraded lighting fixtures throughout, updated bathrooms, newly painted interiors, and HVAC units with added air conditioning. The property also features a reverse osmosis water system in the kitchen, an EV charger in the garage, and multiple outdoor decks for relaxing and entertaining. For an extra touch of adventure, a treehouse hideaway for kids awaits, making this home a truly special retreat. Tucked away amidst 1,100 acres of pristine alpine beauty, Forest Highlands exudes an unparalleled sense of exclusivity and serenity. With two championship golf courses designed by Tom Weiskopf and Jay Morrish, Forest Highlands sets the stage for unforgettable golf experiences. The community offers an array of exceptional amenities, including two clubhouses, multiple dining options, tennis courts, swimming pools, and miles of hiking and biking trails. Forest Highlands is a retreat where luxury meets nature, ensuring a harmonious lifestyle for its residents.

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