Attempting to develop block, how to go about it?

Hi

I have a 1 acre block in Sydney (unemcumbered). Would like to develop it as it currently has only one old house on it. A neighbour has developed part (half) of his and got 6 two level town houses on it, with a large part of the block still to go.

I have no experience in building though. I would like to go into a joint development in a situation where, the builder and I split the biuldings up . I will keep mine as renters.

Anyone heard of going about a development in this manner?

Gateway
 
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