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

12003 W Parkway Lane Avondale, AZ 85323

$572,995
4 Beds
3 Baths
2,480 SqFt
Status Active
MLS # 6761530
Property Type Single Family Residence
Price Type --
The heart of this ranch-style home is an open floor plan with a family room, a breakfast nook and a large gourmet kitchen. The adjacent primary suite offers a walk-in closet and an attached bath. You'll also find two additional bedrooms and a bath, as well as a quiet study and complete with a living area, bedroom, and private bath. Includes covered patio and a 3-car-garage!

16348 W Avenida Del Sol -- Surprise, AZ 85387

$572,995
4 Beds
3 Baths
2,480 SqFt
Status Active
MLS # 6727605
Property Type Single Family Residence
Price Type --
This home features a lovely Guest Suite as well as dramatic 10' ceilings throughout and a tray ceiling at entry; a gourmet kitchen with quartz countertops, 42'' cabinets, a spacious open great room with a multi-slide door; a beautiful primary suite with a generous walk-in closet. The walk-in shower features a rain shower head. This home offers stylish pavers at driveway/walkway.

16355 W Avenida Del Sol -- Surprise, AZ 85387

$572,995
4 Beds
3 Baths
2,480 SqFt
Status Active
MLS # 6718951
Property Type Single Family Residence
Price Type --
This home features a lovely Guest Suite as well as dramatic 10' ceilings throughout and a tray ceiling at entry; a gourmet kitchen with quartz countertops, 42'' cabinets, a spacious open great room with a multi-slide door; a beautiful primary suite with a generous walk-in closet. The master bath features a drop-in tub and a shower. This home offers stylish pavers at driveway/walkway.

16400 W Avenida Del Sol -- Surprise, AZ 85387

$572,995
4 Beds
3 Baths
2,570 SqFt
Status Active
MLS # 6686225
Property Type Single Family Residence
Price Type --
4 bed 3 bath Elev B 2570 SQ FT 2 Car Garage. Has Gourmet Kitchen, Deluxe Master bath with walk in shower. Garage service door, 10ft ceilings at entry. Gas cooktop/range, Gas stub at Patio, 42'' White upper cabinets with 2-1/2'' molding. Wood looing tile through out and carpet in bedrooms.

3070 E Bellerive Drive Gilbert, AZ 85298

$572,990
3 Beds
2 Baths
1,760 SqFt
Status Active
MLS # 6774476
Property Type Single Family Residence
Price Type --
This charming single-story home offers a thoughtfully designed open floor plan with 9-ft. ceilings, a large great room, and beautiful vinyl plank flooring throughout the common areas. The modern kitchen is a standout, featuring sleek quartz countertops, a center island prewired for pendant lighting, a walk-in pantry, and extended 42-in. upper cabinets. The spacious primary suite, located at the back of the home for added privacy, includes an en-suite bath with a walk-in shower, dual-sink vanity with WaterSense® labeled faucets, and a linen closet with ample storage space. Additional highlights include a soft water loop, ceiling fans in the great room, bedrooms, and covered patio, a convenient side-access door to the garage, and a Wi-Fi-enabled ecobee smart thermostat.

4320 Sawbuck Way Wickenburg, AZ 85390

$572,671
2 Beds
2 Baths
1,648 SqFt
Status Active
MLS # 6770325
Property Type Single Family Residence
Price Type --
Welcome to the Dream Floor Plan, thoughtfully personalized in the Shea design studio. This 1,648 sq ft residence offers 2 beds & 2 baths, featuring GE built-in stainless steel appliances, including a gas cooktop, & brushed nickel accents throughout. The primary bath boasts a heavy glass shower enclosure & upgraded granite countertops in both the kitchen & baths. Enjoy custom mosaic tile details, 42'' kitchen cabinets with pullouts, soft-close cabinets & drawers, under-cabinet lighting, & a 15ft sliding glass wall in the living room. Additional highlights include prewired fans in the den & patio, upgraded electrical, smart home features, an extended covered patio, & a 250-gallon underground propane tank. Visit the Shea sales office for current incentives.

1724 S Rockwell Street Gilbert, AZ 85295

$572,400
4 Beds
2 Baths
2,085 SqFt
Status Active
MLS # 6781274
Property Type Single Family Residence
Price Type --
**$5K flooring credit for the new owner from the seller!** Welcome to Lyons Gate! Enjoy the charm of a spacious setting without the upkeep, as you step outside to an HOA-maintained field ideal for kickball, tag, or cozy evenings by the renovated patio for s'mores. Just a short walk from your front door brings you to one of multiple community pools, a basketball court, and a playground. Inside, you'll find an extra-deep garage with fantastic storage solutions, and in the backyard, an included spa awaits your relaxation. You get all of this PLUS great access to the freeway, Mesa Gateway Airport, schools, AND amazing restaurants! Come experience this home and neighborhood for yourself!

16380 W Avenida Del Sol -- Surprise, AZ 85387

$570,995
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 6701706
Property Type Single Family Residence
Price Type --
The gorgeous Cassandra floor plan offers 10-foot ceilings with a tray at entry, gourmet kitchen with quartz countertops and 42 inch cabinets, a huge walk-in pantry, a multi-slide door at great room and a slider at Nook, walk-in Shower with rain shower, and pavers at driveway/walkway, the lot is nearly 8000 square feet and it is North/South exposure.

11937 W Parkway Lane Avondale, AZ 85323

$570,995
3 Beds
2.5 Baths
2,400 SqFt
Status Active
MLS # 6760074
Property Type Single Family Residence
Price Type --
Explore this eye-catching Celeste home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; a gourmet kitchen offering 42'' cabinets, quartz countertops, stainless-steel appliances, a double oven, a walk-in pantry and a center island; an open dining area; a large great room boasting center-meet doors leading onto a tranquil covered patio; an elegant primary suite showcasing an expansive walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a mudroom and a 3-car tandem garage. This home also offers additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

19026 W Stella Avenue Waddell, AZ 85355

$570,990
4 Beds
2.5 Baths
2,399 SqFt
Status Active
MLS # 6745705
Property Type Single Family Residence
Price Type --
The beautiful Irwin floorplan has a 3 car tandem garage, 4 bedrooms and two and a half bathrooms. 9' ceilings, wood plank style tile floorings throughout the home, 8' interior doors, gourmet kitchen package, kitchen tile backsplash and huge island makes this home the perfect spot to entertain! This home is built zero energy ready with spray foam insulation, 2 x 6 construction and 85% offset solar system included giving you a HERS rating in the single digits! This home gives you almost no energy bill and is ready now!

23055 E Watford Drive Queen Creek, AZ 85142

$570,990
4 Beds
3.5 Baths
2,688 SqFt
Status Active
MLS # 6770743
Property Type Single Family Residence
Price Type --
To Be Built of our very popular Pebble single story plan. This plan boasts a 3 car garage, 4 bedrooms, 3.5 baths and an office. Build time is approximately 7 months. We offer a full design center experience where you can colorize the home to your liking. Options and upgrades may increase the price of the home. Please ask about our special financing promotions.

15922 W Electra Lane Surprise, AZ 85387

$570,699
4 Beds
3 Baths
2,229 SqFt
Status Active
MLS # 6719014
Property Type Single Family Residence
Price Type --