Real Estate Investing: How to Find Great Deals on Undeveloped Lots with Big Potential

Real Estate Investing: How to Find Great Deals on Undeveloped Lots with Big PotentialPurchasing 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

2122 E Palo Verde Drive Phoenix, AZ 85016

$2,899,999
6 Beds
6 Baths
5,016 SqFt
Status Active
MLS # 6763357
Property Type Single Family Residence
Price Type --
Ultra contemporary multi-leveled masterpiece of concrete, glass, and steel. This Meteor mansion with a double lot, is perched high on the hill with ample parking. Pull up your sleek driveway, and into the all new privacy glass garage. Ride the cylindrical stainless steel elevator in style or wind your way through all 5 levels of curved deco walls and staircases which soften the rectilinear modern lines that frame walls of glass and views in every direction. You feel as if you are on top of the world! Dramatic concrete coffered ceilings and large format tile throughout in soft gray tones. 6 total bedrooms, three of which are master suites! Capture beautiful sunrises, sunsets and celestial events from the top level deck with built-in BBQ, Jacuzzi, two fire pits, dining area and domed observatory positioned for a 360-degree view of the night sky. Make entertaining a breeze, with the convenience of a dumbwaiter to deliver your outdoor meals from the kitchen up to the top deck. This exceptional architectural masterpiece seamlessly combines modern industrial design elements with stunning panoramic views, delivering a truly unparalleled living experience in perfect harmony with its natural surroundings. Nestled in the prestigious heart of Arizona's Biltmore and Camelback Corridor, this expansive 32,000 sq. ft. mountain lot offers a prime location near 20th St & Missouri without the restrictions of an HOA! You MUST see this one to believe it!

33799 N 84th Street Scottsdale, AZ 85266

$2,899,900
4 Beds
3.5 Baths
4,985 SqFt
Status Active
MLS # 6657379
Property Type Single Family Residence
Price Type --
Fresh exterior paint and massive price reduction! This luxury desert oasis has 360 Mountain Views. Never miss a sunset or city lights with 2 scenic patios. Custom owners closet, temp controlled wine cellar, Control 4 automated, 1-touch throughout, multiple outdoor tvs, built in bbq, heated pool and spa with spillover. Resort style backyard customized only for this home with reflection fountain, splash pad, palapa, playset, putting green. Oversized epoxied garage and extended driveway perfect for RV parking. Custom pendant lighting, accent wall with reclaimed wood and steel. Kitchen features 3 ovens, 8 cooktop with pot filler. A pass-through window opens to the backyard patio. See extensive list of upgrades. No HOA.

12228 E Wood Drive Chandler, AZ 85249

$2,899,000
5 Beds
4.5 Baths
4,967 SqFt
Status Active
MLS # 6762229
Property Type Single Family Residence
Price Type --
Experience unmatched luxury in this exceptional custom home, free of HOA restrictions. Featuring 5 bedrooms and 4.5 bathrooms, the residence boasts a chef's kitchen equipped with high-end appliances, seamlessly flowing into a magnificent great room adorned with a gas fireplace, soaring ceilings, and exposed beams. The exquisite wood and stone flooring enhance the elegance throughout the home.Entertain in style with a formal space that offers stunning views of a backyard oasis, complete with an outdoor fireplace, BBQ area, pool, putting green, mature trees, and lush turf. This rare gem is situated in a beautiful neighborhood of expansive 1-acre lots. Plus, the extended-length 4-car garage is a dream come true for car enthusiasts.

10958 E Taos Drive Scottsdale, AZ 85262

$2,899,000
5 Beds
3.5 Baths
5,554 SqFt
Status Active
MLS # 6740654
Property Type Single Family Residence
Price Type --
Welcome to your dream home nestled in the heart of Scottsdale, where comfort and style meet in perfect harmony. This stunning residence offers a blend of classic elegance and serene living, ideal for those seeking both relaxation and convenience. Spacious Interior: Step into a beautifully designed open floor plan that maximizes space and natural light with soaring high ceilings . The generous living area features high ceilings and large windows, creating a bright and airy atmosphere perfect for entertaining or unwinding after a long day. Gourmet Kitchen: The chef's kitchen is a true centerpiece, boasting sleek granite countertops, stainless steel appliances, and ample cabinetry. A center island provides additional prep space and a casual dining option, making it a great spot for both cooking and casual meals. Luxurious Master Suite: Retreat to the expansive master suite, complete with a private en-suite bathroom featuring dual vanities, a soaking tub, and a separate shower. Enjoy the convenience of a large walk-in closet, attached gym or flex space and direct access to the outdoor living space. Outdoor Oasis: The beautifully landscaped backyard offers a serene escape with a covered patio, ideal for alfresco dining or relaxing with a good book. The lush greenery and well-maintained garden provide a picturesque setting for outdoor activities and gatherings. A view deck with panoramic views of the mountains and city lights, gas fire place, putting green, baja deck in the pool, and so much more. Additional Features: This home also includes a versatile den/office space, perfect for working from home or as a guest room. The attached four-car garage offers ample storage and convenience, as well as a detach 5th car garage for extra storage or toys. Prime Location: Situated in a desirable North Scottsdale yet with no HOA, you'll enjoy easy access to top-rated schools, upscale shopping, dining, and recreational amenities. With its proximity to major highways, commuting and exploring the vibrant Scottsdale area is a breeze.

18 E Heron Place Saint David, AZ 85630

$2,895,000
4 Beds
5 Baths
4,386 SqFt
Status Active
MLS # 6358785
Property Type Single Family Residence
Price Type --
MEDITERRANEAN DREAM HOME PRE-SALE TO BE BUILT ON THIS PRISTINE FOOTHILLS CUSTOM SURVEYED 37.14 ACRES HIGH ON A RIDGE CAPTURING ALL THE MAJESTIC 360' MOUNTAIN VIEWS LIKE NO OTHER * BIG ROAD FRONTAGE ON CUL-DE-SAC HERON PL. & DRAGOON RANCH ROAD * STARY NIGHTS FEELS LIKE YOU CAN TOUCH THE STARS * 4 BEDROOMS W/GUEST SUITE * 41/2 BATHS * ENORMOUS GOURMET KITCHEN * GRAND MASTER BATHROOM * OUTDOOR LIVING AT ITS BEST *SEE INTERIOR RENDERING PHOTOS & HOME SITE * CITY LIGHTS OF SIERRA VISTA, TOMBSTONE, BENSON * GATED ACCESS TO THE 52,000 ACRE CORONADO NAT'L FOREST WITH MILES OF HIKING & EQUESTRIAN TRAILS TO EXPLORE * VISIT THE HISTORICAL ''COCHISE STRONGHOLD'' AND TREATY HILL * MINUTES TO BENSON AIRPORT & GOLF COURSE *** BEST KEPT SECRET GATED COMMUNITY IN TUCSON ***LOW TAXES *** NO CITY TAX *

39334 N Old Stage Road Cave Creek, AZ 85331

$2,895,000
4 Beds
4.5 Baths
3,603 SqFt
Status Active
MLS # 6575759
Property Type Single Family Residence
Price Type --
'To be built' Spectacular Hillside Custom Contemporary, located minutes from Cave Creek 'main street' in The Village at Go John Canyon. MODEL HOME IN COMMUNITY IS UNDER CONSTRUCTION ON PARCEL 5. No HOA. Nestled into the upslope of Go John Mountain, this single level 3603 sq. ft. Desert Contemporary is featured with a fabulous Great Room, temp controlled glass enclosed wine room, luxurious Owner's Suite, gourmet chefs kitchen, heated pool, spa and elevated expansive S.E. views. Some Images are conceptual and subject to modifications. Ask about the 'optional' 900 sq. ft. Carriage Home above garage.

36202 N 36th Street Cave Creek, AZ 85331

$2,895,000
4 Beds
2.5 Baths
4,202 SqFt
Status Active
MLS # 6691402
Property Type Single Family Residence
Price Type --
Absolutely stunning, fully fenced horse property just under 5 acres surrounded by Arizona State trust land and NO HOA. This spectacular horse property has easy access on paved roads, is on city water and only 5 minutes to shopping, but still has the serenity and privacy of being secluded in the beautiful Sonoran desert. The views from both the home and arena are unparalleled. Not only is the property fully fenced with oil pipe fencing, so is the horse facility. The horse facility has its own entrance on the north side of the property where you can drive right up to the lighted and covered 12 stall mare motel, each with runs and no climb fencing. There is covered hay storage, a clean and spacious tack room with epoxy flooring and two separate wash racks. Additionally, there are double gates throughout the whole property for ease of not only maneuvering but pulling thru trucks and trailers and plenty of space for multi use. This property also has two giant turn outs (can be divided for more), a 50' round pen, a brand new professional grade 6 horse Priefert walker, upgraded WiFi for google cameras at the barn and sonos speakers at the barn and house . The arena is 130x280 with brand new footing and has plenty of room for additional turn outs or holding pens for cattle. To top it off, there are two brand new full RV hook ups, one with a 50amps, one with 35amps plus an additional 35amps outlet for another hookup. Drive up thru the impressive double gate onto your property and notice the exquisite pavered driveway and parking area. It's breathtaking. Enter thru the massive custom Cantera Luxe iron double doors into a giant great room with views of the mountains. The 12 foot high ceilings with skylights adds to the spacious feel of this custom home. The great room has a wet bar, wine fridge and has oversized sliding glass doors that open to the patio to bring the outdoors in; yet another way to enjoy the beautiful Arizona weather. The kitchen and family room are a great place to gather in front of the gas fireplace for the game on TV or open the sliding glass doors that lead to the incredible and expansive outdoor patio to enjoy your views and to look at out your horses in the turn outs and barn. The kitchen contains a 64 inch gas Wolfe stove that has six burners, a French griddle and has a full-size double oven. You'll also find an additional built-in electric oven, a built-in subzero refrigerator, RO system, and granite countertops. The master suite is a retreat of its own. With a gas fireplace, views of the mountains and its own exit to the expansive patio or private courtyard, you can find a sense of refuge with this split floor plan. The master bath has a Jacuzzi type bathtub, double sinks, and walk in shower that also can enclose into a steam room. Additionally it has a massive custom closet plus a separate storage area and drawers. The junior master suite has new flooring, oversized closet and newly remodeled bathroom. Across the hall is the giant office with custom built ins or can be converted to an additional bedroom. Next to the office is a separate media room with projector TV and surround sound to watch the big game or a favorite block buster movie. Furthermore there is an oversized laundry room with plenty of counter space and storage and another small bedroom with a bonus area that currently has a temperature controlled wine room. Not only is there a two car garage with epoxy flooring and storage attached to the house, there is also a detached 38' x 63' RV garage that has high grade commerical roll up doors with epoxy flooring, large air compressor, separate area with work bench and full wall of cabinets for storage. Additionally, it has a 1/2 bath with a seperate water heater, a spacious loft area for even more storage... and bonus.... Giant exhaust fan to keep cool in the summers. Moving to the back yard, this spectacular property boasts a relaxing space to enjoy the peace and quiet of the Arizona desert. Stepping out from the expansive covered patio with misting system, you can sit and enjoy the glass rock fire pit over looking the mountains. To complete the features of the backyard, there is an artificial grass putting green, your own enclosed garden and a chicken coop. Lastly, not only have brand new screen been installed in the home but 25k in brand new LED lighting has been installed over the entire property and landscaping which makes this estate a complete showcase! Ride right off of your property to access nearly unlimited trail riding on BLM and state trust land, and for roping enthusiasts, it's only 15 minutes to dynamite arena and less than one hour to Wickenburg. Sale includes most furniture, 7 new upgraded TVs and all technology will convey.

5310 E Wonderview Road Phoenix, AZ 85018

$2,895,000
3 Beds
4 Baths
4,160 SqFt
Status Active
MLS # 6743609
Property Type Single Family Residence
Price Type --
Live above it all! Nestled on an expansive acre lot on Camelback Mountain, this stunning property offers a serene desert landscape and awe-inspiring mountain views. Living on Camelback Mountain offers a unique lifestyle with access to top hiking trails, breathtaking views, and close proximity to upscale shopping and dining in Phoenix and Scottsdale. This home presents a fantastic opportunity to customize and enhance its features with cosmetic upgrades, allowing you to infuse your personal style and transform this house into your dream home. Embrace the chance to create a luxurious haven with unbelievable views in one of Phoenix's most prestigious areas.

3718 E Sells Drive Phoenix, AZ 85018

$2,895,000
4 Beds
4.5 Baths
4,169 SqFt
Status Active
MLS # 6767565
Property Type Single Family Residence
Price Type --
Community consists of 16 modern semi-custom homes. Walking distance to popular Arcadia lite eateries. Endless builder upgrades and recent additions from current owner. 4 bedrooms, 4.5 baths, air-conditioned 3-car garage. Front entry patio w/sitting area & fireplace. Modern glass front door entry with sidelight. Beautiful engineered wood floors t/o. Great room concept with open kitchen. Large center island. Custom cabinetry, high grade stainless Sub-Zero/Wolf appliances. Granite/stone counters. Large walk-in pantry. Soaring vaulted ceilings at living area w/exposed deco trusses. Upgraded surround sound. Built-in wet bar w/wine fridge. Custom fireplace. French doors off dining space to built-in outdoor barbecue. Lower level primary suite-features separate shower/freestanding soaking tub- -split dual vanity, large walk-in closet with built-ins, and fireplace. There's an additional en-suite downstairs AND guest half bath. Upstairs has 2 additional split en-suites. Massive secondary living space with vaulted ceilings. Office nook with built-ins. Secondary nook with built-cabinets for added storage. Custom light fixtures throughout. Oversized interior laundry with added cabinetry and utility sink. Whole home Savant water purification & water softener. New 5-ton a/c (23). $25,000 interior/exterior camera system. $450k in upgrades from previous owner. Expansive covered patio w/pavers. Heated salt-water play pool with water feature. Custom pergola with above ground jacuzzi. Outdoor fire pit. Easy care front & rear yard. Recently added landscape and upgraded lighting. N/S exposure. Situated at the start of cul-de-sac. Walk or bike to Arcadia's popular restaurants and pubs.

9801 N 53rd Place Paradise Valley, AZ 85253

$2,895,000
6 Beds
7 Baths
6,809 SqFt
Status Active Under Contract
MLS # 6755031
Property Type Single Family Residence
Price Type --
This Paradise Valley Estate has never been on the market and is being sold in As Is condition. This one of a kind home was custom built in 1991 and exhibits many unique qualities including multiple attached guest quarter suites and an indoor swimming pool. Main house is 2 bedrooms + an office. Additional bedrooms are located in multiple attached guest quarters Situated on nearly .8 acres adjacent to Camelback golf course and impeccably maintained, this is a rare opportunity in Paradise Valley.

11320 N 106th Street Scottsdale, AZ 85259

$2,895,000
4 Beds
4.5 Baths
4,071 SqFt
Status Active
MLS # 6771028
Property Type Single Family Residence
Price Type --
IF AN OFFER IS NOT ACCEPTED BY 11/24, LISTING WILL BE CANCELLED AND OWNERS WILL MOVE IN SO PLAN ACCORDINGLY. Located in the highly desirable Cactus Corridor neighborhood comes this 4071sf single-story transitional contemporary renovation (w/ no steps,). It offers 4 bedrooms + an office & a game room, 4.5 baths (all ensuite + powder), 3 car garage on a private 1/2-acre lot. With project completion set for November, every aspect of this home will be touched, inside & out, mechanically & cosmetically with no stone unturned. The list is so extensive, that all are described in the listing's docs tab. This stunning remodel rivals any multi-million-dollar home in Scottsdale. Curb appeal is magnificent showcasing all new windows, smooth stucco paint, brick-wrapped columns, paver walkways & widen driveway, & charcoal roof tiled roof. Enter through the oversized iron pivot door and find that walls have been taken down & reconfigured to reveal a spacious modern open floor plan with soaring beamed ceilings. Custom cabinetry w/ panel-ready Thermador appliances make this a dream kitchen. The built-on site fireplace at the heart of the home is a stunning piece of artwork with herringbone brick and a modern shiplap border. Every cabinet, including closets, has been custom-made with either quartzite or quartz counters. The primary suite with custom paint & lighting establishes the mood & the ensuite bath is designed with impeccable taste & functionality. The 3 guest rooms have ensuite baths with their own unique, but blended style. The office is perfectly situated with a tranquil courtyard & water feature. The entire backyard was transformed. All decking was resurfaced with marble pavers & now includes an expansive turf area. Gorgeous deco & waterline tile bordering the pebble-tec diving pool sparkles. Indoor & outdoor access to an oversized game/flex room that has a full-size fridge, microwave & sink. Spacious ramada for dining al fresco with a dedicated BBQ station. Lush greenery and mature landscaping surround the property with easy backyard maintenance. The side yard has space & power to add a double bay garage and/or casita. This home is the epitome of balance between luxury and creature comforts.

37224 N 237th Avenue Morristown, AZ 85342

$2,895,000
5 Beds
4.5 Baths
5,865 SqFt
Status Active
MLS # 6700116
Property Type Single Family Residence
Price Type --
Discover unparalleled luxury and versatility on this remarkable 9.88-acre estate, nestled in a prestigious airpark community. Offering the perfect blend of sophistication, comfort, and vast open space, this property caters to both the aviation enthusiast and the horse lover. While direct runway access is available, the real magic lies in the boundless opportunities this estate provides for relaxation, entertainment, and equestrian pursuits. The home itself spans over 5,800 square feet, and each room is crafted with a focus on comfort and detail. As you enter, the warmth of the great room sets the tone for the rest of the home—a space that effortlessly blends elegance with everyday living. The well-appointed chef's kitchen, featuring a premium gas cooktop and custom cabinetry, invites... culinary creativity. Multiple dining areas offer the flexibility to host anything from intimate family breakfasts to grand dinner parties. Carefully curated finishes and thoughtful touches are present throughout, giving the entire home an understated elegance that feels both inviting and luxurious. This home's six bedrooms provide plenty of room for family and guests, each offering a retreat-like atmosphere. The primary suite stands out as a private oasis, complete with its own fireplace and a beautifully designed en suite bathroom. A spa-like soaking tub, walk-in shower, and dual vanities make this space perfect for unwinding after a long day. The additional bedrooms are equally spacious and well-appointed, ensuring comfort for all. Step outside, and you'll find that this property is made for entertaining. The sweeping backyard is your own private resort, featuring a sparkling pool surrounded by manicured landscaping. Imagine hosting summer gatherings herefriends and family relaxing by the pool, enjoying the sunshine, and dining al fresco under the stars. The outdoor kitchen is fully equipped with a professional-grade grill, refrigerator, and everything you need for seamless outdoor entertaining. There's even a private volleyball court for endless fun and a cozy fire pit area for winding down with s'mores and great conversation. Beyond the luxurious home and entertainer's backyard, this estate offers incredible potential for horse enthusiasts. With 4.88 acres zoned for horses, you'll have more than enough room to create your dream equestrian setup. Whether you're envisioning a spacious arena, stables, or other horse facilities, this land is ready to accommodate your vision. Though situated in an airpark community, this estate feels like its own world, offering a unique combination of luxury living and vast open space. Whether you're drawn to the home's elegant design, the endless possibilities for outdoor living and entertaining, or the opportunity to build a horse retreat, this property offers it all. Live the life you've always dreamed of with this estate that truly has something for everyone.