Building a House or two or three or four

So here it is. In keeping with the crazy Seattle real estate boom - Bruce and I signed escrow yesterday to purchase and build a lot in Jackson Park by Jackson Hole Golf Course in Seattle. We will be building two houses for fun and profit. I didn't want to post about it until we signed the papers - everything can go wrong up to that point. This is the third deal I have tried to close this year the last two didn't work out for one reason or another.

We have purchased one lot and are under contract for the second. (Why build just one house when you can build two?) It turned out there is a sewer main on the second lot and the current owner has agreed to apply for the buildover and do the necessary work to make it buildable. I have been really interested in the real estate market here and have decided to do some speculation. I'll let you know about it as it progresses.