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

9401 S 51st Street Phoenix, AZ 85044

$580,000

4 Beds

3 Baths

2,677 SqFt

Status Active

MLS # 6647719

Property Type Single Family Residence

Price Type --

NEW Roof**NEW kitchen stainless appliances, and pull out drawers in all lower cabinets*** NEW water heater*** NEW fresh paint interior*** blinds on all windows, custom closets in master bedroom and bedroom 2 ** Elegant golf course home boasts a spacious island kitchen wit. The windows offer views of the landscaped turf yard. Vaulted ceilings and custom shutters are featured throughout. The upstairs primary bedroom suite includes a balcony with views of the 7th fairway. Additional amenities include a living room fireplace and hardwood floors. With one bedroom downstairs, golf and gym memberships available, and surrounding hiking trails, there's plenty to enjoy. The 3rd car garage can be converted back to a garage. This beautiful home is move-in ready for your client

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16233 W Mohave Street Goodyear, AZ 85338

$580,000

4 Beds

2.5 Baths

3,064 SqFt

Status Active

MLS # 6703699

Property Type Single Family Residence

Price Type --

So Fresh and So Clean! 4bd/2.5ba/3car. This home sits on a 9600 sqft lot, backing south, and adjacent to a wash so no neighbors to the West. Custom configured by the owners, the features list includes utility bill saving solar panels! Kitchen has custom pullout drawers in EVERY cabinet, Hood with 36' gas cooktop, double oven and granite countertops. The great room and kitchen/dining flow seamlessly into one another for an open concept. Off the entry the formal dining has been converted into an office/flex room. All tile flooring was laid with a unique 70/30% pattern. Primary bedroom is massive measuring at 17.9'x16.9'. Upgrades in the last 3 years include all new landscape irrigation with pvc pipe, both AC units, exterior paint. Nothing left to do but buy it and move right in!!!

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1357 W Port A Sail Drive Gilbert, AZ 85233

$580,000

3 Beds

3 Baths

1,797 SqFt

Status Active

MLS # 6741454

Property Type Single Family Residence

Price Type --

This stunning waterfront home in gated community offers breathtaking views with three bedrooms, third bedroom converted to an office, and three full baths. Freshly painted, this two-story residence exudes modern elegance and charm. The gourmet kitchen boasts granite countertops, newer appliances, and opens to a sunlit dining area, perfect for entertaining. The living room, featuring water views and a wood-burning fireplace. Each bedroom serves as a private haven, with the primary suite offering a luxurious en-suite bath. Outside, the beautifully landscaped yard, complete with turf and mature trees, provides the perfect setting for relaxing and enjoying the waterfront lifestyle. 2 A/C units 2020, water heater 2021, kitchen appliances 2021, lighting and house painted 20

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10536 W Villa Hermosa -- Peoria, AZ 85383

$580,000

3 Beds

2 Baths

2,493 SqFt

Status Active

MLS # 6744672

Property Type Single Family Residence

Price Type --

NO HOA!!! Highly sought after North Peoria home featuring a 3-car garage & a welcoming covered entry. Inside, you'll find 3 bedrooms plus a versatile den, along with family & living rooms, and a formal dining area—perfect for gatherings & relaxation. The kitchen has elegant granite counters, including a charming round granite table that stays, and convenient soft-closing cabinet drawers & doors. The master suite offers a spacious walk-in closet with custom shelving & access to the 3rd car garage. Buyer to choose between a sleek glass shower front or a restored separate shower/tub before close of escrow. Fall in love with the expansive enclosed patio & outdoor kitchen area. Conveniently located near schools, shopping, and entertainment, this home is ready for you to move in and enjoy!

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3061 E Santa Rosa Drive Gilbert, AZ 85234

$580,000

3 Beds

2.5 Baths

2,267 SqFt

Status Active

MLS # 6741746

Property Type Single Family Residence

Price Type --

Beautiful two-story gem in Gilbert is the one! This magnificent residence is located near hospitals, restaurants, shopping spots, and more. You'll love the remodeled interior featuring a generous open layout enhanced with decorative light fixtures, soothing paint, and luxury vinyl plank flooring. Spotless kitchen is a chef's dream, including SS appliances, quartz counters, recessed lighting, white shaker cabinetry, a subway tile backsplash, and an island with a breakfast bar. Discover a sizable loft upstairs, ideal for an additional living space! Retreat to the spacious double door entry main suite, a full ensuite, and a walk-in closet. Continue onto the lovely backyard, with a built-in BBQ, artificial turf, a hot tub, and a refreshing pool ready to enjoy.

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710 W 18th Street Tempe, AZ 85281

$580,000

3 Beds

2 Baths

1,792 SqFt

Status Active

MLS # 6743870

Property Type Single Family Residence

Price Type --

1-0 BUY DOWN AVAILABLE WITH THE PREFERRED LENDER! This charming 3-bedroom, 2-bath home is nestled with a gated courtyard, you'll immediately appreciate the serene grass area and shaded patio. The inviting family room seamlessly connects to the entertainer's kitchen, which features a farmhouse sink, stainless steel appliances, and more than ample storage. The warm-toned granite countertops offer generous space, including a breakfast bar and a versatile bar/desk area. The primary bedroom boasting a stylish en suite bath, complete with a spacious walk-in shower and walk-in closet. You'll love the additional storage options, including a hall room for pantry items or a spare refrigerator, a large laundry area with a folding counter and drawer storage, and a dedicated cabinet filled pet/craft/ sport equipment space. The rear bonus room provides flexibility...it could serve as a living, dining, or media room and opens directly to the backyard. Enjoy outdoor living on the expansive rear patio featuring a gazebo, synthetic grass, and a firepit. Plus, the property includes an expansive covered RV parking area, large sturdy sheds, and a garage workshop for all your storage or creative needs. This home truly offers both comfort and functionality! Plus, Clark Park is right next door and is a fantastic place with a wide range of amenities! Here's a quick overview of what you can enjoy there: Community Center: Great for classes, events, and community gatherings. Pool & Splashpad: Perfect for cooling off and having fun in the water. Basketball Courts: Ideal for pickup games or practice. Baseball Diamond: A spot for baseball games and activities. Dog Park: A dedicated space for your furry friends to play. Grills: For BBQs and outdoor cooking. Horseshoes Pit: A fun game for social gatherings. Ramadas: Shaded areas for picnics and parties. Volleyball Court: A place for beach-style volleyball games. Community Garden: A spot to grow plants and vegetables. Playground: A great area for kids to play and explore. It seems like Clark Park has something for everyone, whether you're looking to stay active, relax, or enjoy time with family and friends. Bus and light rail access is nearby - perfect for high school and college student/faculty commuting!

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12311 W Tigerseye Drive Sun City West, AZ 85375

$580,000

3 Beds

2 Baths

2,157 SqFt

Status Active

MLS # 6752337

Property Type Single Family Residence

Price Type --

Welcome to your Desert Oasis... Pride of ownership is definitely shown in this move in ready 3 bedroom 2 bath home with a retreat style backyard. The home has many updates in the kitchen, living room, formal dining/family room, bathrooms, flooring, Arizona room, pergola with 6 person hot tub, updated pool decking, and painted sidewalks. All major appliances included. Interior window shutters on all front windows and new mini spilt in the Arizona room. Don't miss this one of kind gem! Come see it today!

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2101 N Normal Avenue Tempe, AZ 85288

$580,000

3 Beds

2 Baths

1,513 SqFt

Status Active

MLS # 6753795

Property Type Single Family Residence

Price Type --

Newly remodeled home with fresh interior paint and new front landscaping!Fresh blue exterior paint, dual pane windows, and recent plumbing and electrical updates.Beautiful wood flooring throughout the home, recessed lighting, barn doors, and TWO entertainment rooms await you inside. Large shaker cabinets w/crown molding, granite counters, stainless steel appliances, custom tile backsplash, & a center island w/breakfast bar. The covered patio and fire-pit is the ideal place for all your gatherings under the vast Arizona sky. Located in a quiet neighborhood just minutes from Old Town Scottsdale, ASU, the Entertainment District! This property qualifies for 1% lender credits available to a qualified buyer! If not already working with another lender, please see the lender flyer in docs tab f

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17052 N 36th Court Phoenix, AZ 85032

$580,000

4 Beds

2 Baths

2,018 SqFt

Status Active

MLS # 6756073

Property Type Single Family Residence

Price Type --

2 master bedrooms. HUGE lot, 1/3 of an acre! So much more opportunity with this property. No HOA. Cul-de-sac. RV gate. Pool just re-plastered! 4 bedrooms, 2 bathrooms. Double master suites. 2 huge walk-in closets in master suite. Master bathroom upgraded with new shower tile. New floors throughout. The entire house painted inside and out. New quartz countertops in the kitchen. Two large living areas, great space for entertaining and gathering. A must see home!

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4344 E Granada Road Phoenix, AZ 85008

$580,000

3 Beds

2.5 Baths

2,108 SqFt

Status Active

MLS # 6754410

Property Type Townhouse

Price Type --

This home is a must see! Well appointed townhouse in gated community in high demand area. Built in 2022 by D.R. Horton. Incredible location, just a 10 minute Uber to Sky Harbor Airport. Easy freeway access and close to everything Arcadia, Biltmore, Tempe, Scottsdale and Downtown Phoenix have to offer. 70 walk score and 89 bike score! This is a spacious home with a large loft. It's the largest model offered in the community at 2108 sq ft, featuring 3 bedrooms, 2.5 bathrooms, office and a loft. Tall 10' ceilings and 8' doors. 2 car private garage. Only 2 doors away from a nice community pool. Makes an excellent ''lock and leave'' house with the gated entrance and low maintenance backyard landscaping (artificial turf and pavers)

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12520 E Crystal Forest -- Gold Canyon, AZ 85118

$580,000

4 Beds

3.5 Baths

2,464 SqFt

Status Active

MLS # 6756661

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful home in Peralta Canyon! Providing 4 beds, 3.5 baths, 2-car garage, & a low-care landscape. Just off the front entry is the versatile den! Continue onto the spacious open layout paired with elegant light fixtures, tile flooring, designer paint, abundant natural light, and multi-sliding doors to the back. The gourmet kitchen boasts sleek SS appliances, quartz counters, mosaic tile backsplash, ample espresso cabinetry, a walk-in pantry, and a prep island w/breakfast bar. Berber carpet in the bedrooms! Primary bedroom has an ensuite with two vanities & a walk-in closet. One other bedroom also includes its own bathroom. Discover the charming backyard, offering a covered patio, well-laid pavers, artificial turf, & a fireplace area w/built-in seats.

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4386 E Selena Drive Phoenix, AZ 85050

$580,000

3 Beds

2.5 Baths

2,171 SqFt

Status Active

MLS # 6758795

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION!! This beautiful 3-bedroom, 2.5-bathroom home boasts a bright, open layout. As you enter, you're greeted by a spacious living area that flows seamlessly into the dining and kitchen spaces perfect for entertaining. Upstairs, you'll find three generously sized bedrooms, along with a large flex room—perfect for a home office, playroom, or additional living space. The primary suite is split and offers a private retreat with an ensuite bath and walk-in closet. Located on a picturesque, tree-lined street, the curb appeal is undeniable. The patio is a private oasis, ideal for outdoor dining or simply enjoying the Arizona sunshine. Easy access to local schools, parks, and shopping, don't miss out on this North Phoenix Gem!

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