REaltors, experts, everyone, feel free to give your 2cents.
My parents have some restaurant buddies who live in Airdrie who bought 8 empty lots North of Airdrie, I'm not sure of the exact location. They held onto the empty lots for about 3 years, each lot cost about $12k. Now that development has expanded to the area, they just sold each lot for roughly $100k profit, that's $800k. LOL. In the 3 years, the only expenses they incurred were just $50 in property taxes/unit/year. This is all the information my parents got from their buddies since it was their eldest daughter that handled everything.
Now this really stirred up my curiosity of the whole process. In the Chinese Newspapers, there is a company called S&D Canada that is offering a buying opportunity in Leduc. The location of the lots are by the Edmonton Airport, apparently there is a golf course nearby? The development is expected to reach there in a few years and investment returns are expected to be around 40% or more. The cost of each lot is around $20k and the land is yours. I don't have any of the dimension information.