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

3731 E Mitchell Drive Phoenix, AZ 85018

$565,000

3 Beds

2.5 Baths

1,635 SqFt

Status Active

MLS # 6768183

Property Type Townhouse

Price Type --

AMAZING OPPORTUNITY TO OWN THIS 3BD 2.5BA COMPLETELY REMODELED TOWN HOME IN THE HEART OF ARCADIA LITE! Private, gated community. All tile throughout on the main floor; great room, dining room & large kitchen w/pantry Stainless steel appliances & powder bathroom downstairs. Wood-like, laminate flooring up the stairs & throughout the 2ndfloor. Large primary suite w/private balcony, full primary bath w/separate tub. shower & walk-in closet. Two more bedrooms upstairs each w/walk-in closets & Jack-n-Jill bathroom set up. Ceiling fans in great room & all bedrooms. Laundry room conveniently located on the 2nd floor-washer and dryer included! Two-car attached garage, large rear private patio. Located at the end of the Culdesac street. YOU HAVE TO SEE TO THIS ONE TO BELIEVE IT! & PRICED TO SELL!

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9829 E Talon Avenue Mesa, AZ 85212

$565,000

4 Beds

3 Baths

1,968 SqFt

Status Active

MLS # 6772594

Property Type Single Family Residence

Price Type --

Welcome to 9829 E Talon Ave, a wonderfully designed 4-bedroom, 3-bathroom home, PLUS a den, nestled within the beautiful community of Cadence. This inviting residence features an open-concept layout, perfect for entertaining. New carpets were installed in March! Enjoy the modern kitchen with sleek appliances and ample counter space, while the spacious living area leads to a private backyard oasis, ideal for relaxing or hosting gatherings. The primary suite offers a tranquil retreat with an en-suite bathroom. Conveniently located near parks, shopping, and top-rated schools, this home is a must-see. Don't miss your chance to own this gem in Mesa!

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8374 W Palo Verde Avenue Peoria, AZ 85345

$565,000

5 Beds

4 Baths

3,704 SqFt

Status Active

MLS # 6776559

Property Type Single Family Residence

Price Type --

Enormous opportunity for this BIG home in a gated neighborhood. 5 bedrooms, 3.5 bathrooms with the master conveniently located on the main floor. Beautifully updated master bathroom with separate tub and shower, private toilet room and large master closet. First floor has newer luxury vinyl flooring. Breakfast island in the kitchen plus dining area. Adjacent family room allows for maximum entertainment options with an exit to the large covered patio. Upstairs, you'll find a large loft area, 4 bedrooms ( some with walk in closets), 2 full baths and storage closets. Updates include: windows, tankless heater, appliances. Over sized triple garage can accommodate a full size SUV.

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31020 N 42nd Way Cave Creek, AZ 85331

$565,000

3 Beds

2 Baths

1,857 SqFt

Status Active Under Contract

MLS # 6732311

Property Type Single Family Residence

Price Type --

Great opportunity to live in Tatum Ranch at the right price! Barely lived in home has been lovingly maintained over the years, just bring your remodeling ideas! Open and inviting floorplan with elevated entrance. Separate formal living room perfect for his or her space, media room, or kids area. Open great room with kitchen island and large family room area complete with built-ins. Split floorplan with two bedrooms, bathroom, and laundry room separate from master bedroom with large bathroom and walk-in closet. Enter your backyard complete with sparkling pool and water feature, mature landscaping, and automatic watering system. Pool resurfaced 2024 and new variable speed pump installed 2023. Two car garage with extra shelving for storage. Tatum Ranch is a perfect community for those looking to live a little outside the hustle and bustle of Phoenix, but still enjoy plenty of close amenities such as restaurants, shopping, golf courses, and hiking. Desert living at its finest!

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12947 W Fossil Drive Peoria, AZ 85383

$565,000

2 Beds

2 Baths

1,798 SqFt

Status Active Under Contract

MLS # 6737283

Property Type Single Family Residence

Price Type --

$20,000 PRICE REDUCTION on this PRISTINE & PERFECT SIDUS Model home. Tile Flooring Throughout, No Carpet. Kitchen Boasts UPGRADED STAGGERED CABINETS, CROWN MOLDING, ROLL OUT SHELVES, UNDER CABINET LIGHTING, STAINLESS APPLIANCES & ENGINEERED STONE COUNTER TOPS, with TILE BACKSPLASH. Large Smart Room with an ABUNDANCE OF CABINETS for EXTRA STORAGE, W/D, 2 Desk Work Areas & LARGE PANTRY. Open Living area features WALL OF GLASS SLIDER that opens to Tiled & Paver Private Patio with a Raised Planter Bed for your Herb Garden or Flowers, & NEW Synthetic Grass. MURPHY BED in Den. Master BR w Bay window for Seating. Step into Master Bath w TILE SHOWER & DUAL VANITIES. This Lightly Lived Home Features Everything You Need, including Mature Landscaping for added PRIVACY & Extended Garage & MORE!

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6208 W Grandview Road Glendale, AZ 85306

$565,000

4 Beds

2.5 Baths

2,330 SqFt

Status Active Under Contract

MLS # 6755708

Property Type Single Family Residence

Price Type --

Bring the family and the pets! Beautiful 4 bed, 2.5 bath, 2-car home in Glendale's Brandywyne community! Park like backyard with refinished pool, RV gate, fire pit and sitting areas. Bright and open with large bay windows front and back and tile flooring throughout! Kitchen features granite counter tops, stainless appliances and a walk in pantry. Large living areas with high ceilings, classic brick fireplace and access to covered patio and landscaped backyard with your own private pool with removable fencing! Primary bedroom located upstairs is complete with large tub, dual vanity, and walk-in closet! New A/C, upgraded electrical panel and upgraded insulation. recent hot water heater and energy efficient solar panels with a very affordable lease... Yes... You can afford to crank that AC!

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16472 W Shangri La Road Surprise, AZ 85388

$565,000

3 Beds

2 Baths

2,348 SqFt

Status Active Under Contract

MLS # 6765097

Property Type Single Family Residence

Price Type --

This stunning 3-bedroom, 2-bathroom home is perfectly situated near shopping and entertainment centers, making it an ideal primary residence or investment property. With a den and great room, this home offers a spacious floor plan for your comfort. Currently operating as an Airbnb, the furniture is available by separate bill of sale. The split primary bedroom features a full ensuite bathroom, while the interior is filled with natural light from large Dual Pane Low-E windows. The kitchen boasts a walk-in pantry, granite countertops, a breakfast bar, and plenty of cabinet space. Step through the sliding glass door to a covered patio that overlooks a beautifully landscaped backyard with a heated pool and an above-ground heated spa - perfect for year-round relaxation!

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927 W Horseshoe Avenue Gilbert, AZ 85233

$565,000

4 Beds

3 Baths

2,104 SqFt

Status Active

MLS # 6781236

Property Type Single Family Residence

Price Type --

Nice Tri-Level home in desirable location. New flooring, fresh paint. Large kitchen with plenty of storage and beautiful bay windows. Cozy fireplace in family room. Large back yard that features a refreshing pool.

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6202 E Mckellips Road Unit 42 Mesa, AZ 85215

$565,000

2 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6762857

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gorgeous, gated community of Tuscany Villas! This beautiful detached home comes **FURNISHED** and offers a prime location right on the **golf course,** perfect for enjoying peaceful mornings or sunset views. Whether you're looking for a full-time residence, a personal vacation getaway, or a lock-and-leave option, this property delivers versatility and luxury. Inside, you'll find an open kitchen, granite countertops and high-quality furnishings throughout. Recent updates include a new HVAC system and water heater. Please see documents tab regarding items that do not convey as well as HOA information.

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4550 E Corral Road Phoenix, AZ 85044

$565,000

3 Beds

2 Baths

1,796 SqFt

Status Active

MLS # 6742076

Property Type Single Family Residence

Price Type --

Why drive to your next hike? Live nestled among the 16,000 acres of South Mountain Park (trailhead access around corner). Homes seldom come to market in this neighborhood, especially a single story, Great Room concept one. Enjoy engineered hardwood floors through out most of the house & brand new carpet in the secondary bedrooms. Dual pane windows make summer a whole lot easier to handle. Once we cool off, the two-way wood burning fireplace gives your nest an ambience you never knew you ''needed.'' Outside, the front courtyard is the perfect party patio. Use the Tuff Shed for extra storage or hobbies. With electiricity & a loft the possbilties are endless! There's no HOA. Parking an RV or boat on your concrete slab space is A-ok here. A nest perfect for those who love the great outdoors!

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16085 W Alameda Road Surprise, AZ 85387

$565,000

3 Beds

2.5 Baths

2,019 SqFt

Status Active

MLS # 6772867

Property Type Single Family Residence

Price Type --

The seller is offering a 3% concession. This beautiful, move-in-ready home features a gourmet kitchen with upgraded cabinetry, a stylish backsplash, stainless steel appliances, granite countertops, and a walk-in pantry. The spacious great room opens to a backyard that is ready for you to create your ideal outdoor oasis. Bedrooms #2 and #3 share a guest bathroom and are separated from the primary bedroom for added privacy. Enjoy shutters and ceiling fans throughout, and soft water system. The community provides exceptional amenities, including an aquatic center, pickleball, sand volleyball, bocce ball, playgrounds, trails, zip lines, and frisbee golf! Special financing incentives are available on this property through SIRVA Mortgage.

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17514 N Horseshoe Drive Surprise, AZ 85374

Open House

$565,000

2 Beds

2 Baths

2,298 SqFt

Status Active

MLS # 6747590

Property Type Single Family Residence

Price Type --

ONE OF THE MOST LUXURIOUS HOMES IN THE PRESTIGIOUS 'PINNACLE' AREA OF THE GRAND * SOLAR LEASE HAS BEEN PREPAID TILL 2032 SO NO MONTHLY EXPENSE. (SAVE 1,000S ) YOU WILL NOT WANT TO MISS THIS ONE !!! EXCEPTIONAL UPGRADES GALORE*FAUX STONE FRONT*STUNNING 18 INCH PORCELAIN TILE*MAGNIFICENT GRANITE COUNTER TOPS & BACKSPLASH * EXQUISITE CUSTOM DESIGNED CHERRY WOOD KITCH CABS, LIBRARY, DEN, MEDIA CENTER * SURROND SOUND* SMOOTH TOP RANGE * 2 OVENS-CONVEN&CONVEC * * GORGEOUS PVT BCKYD W/HUGE PATIO-W/BI BBQ,& SPECTACULAR WTRFALL*3 CAR GAR WITH SERVICE DOOR AND UTILITY SINK*LOW E WINDOWS* ALL APPLIANCES INCLUDED. BEDROOMS HAVE NEW CARPET. PERFECT HOME FOR ENTERTAINING. ACROSS FROM GOLF COURSE AND WATER VIEW. The Grand is a 45+ master planned golf course community Sun City Grand, an active adult community in Surprise, Arizona, offers a variety of amenities including: Four 18-hole golf courses Two fitness centers Two resort-style pools Two outdoor lap pools One indoor pool Tennis courts Pickleball courts Bocce ball courts

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