Well I thought I might share the experience of one of my current ventures. If I report on the progress as it happens then you can watch it either succeed, or not in this current climate of investing in Perth property. At this stage I can't say where the development is because it hasn't settled yet and I am not the only person involved and there are privacy issues. But the general principles may be useful to others. 8 separate investors have jointly offered to buy a block of land in an established suburb in Perth. Average price in the area for a home is 365K. The block, 4000sqm, has an old recently rented asbestos house and several out buildings on it. These need to be demolished, and the block will take 8 three bed 2 bath double garage properties. The block is rectangular flat and deep.Perfect for an access road down one side with each house positioned off the left of the new drive to be built. Each strata will be just under the 500 sqm size. Quite generous sizes really. So to the process. As there are 8 buyers, we formed a company, each of us becoming shareholders and we pay a project manager. That company disbands at the end of the process. The company owns the block, settling in September. As there are no titles created yet, there is no security as such to borrow against. So on settlement we need to put in $100K each. With us, that will be an LOC on PPOR. Then we individually will provide further funds to pay for sewerage connection, stamp duty, head works, council development fees, demolition, suveyors etc. Right up front, we have each put up $9K for deposit and to pay the project manager. If the block doesn't get approved for subdivision, then we get most of that money back. If it does go ahead, we settle, we clear and we build and share the costs as we go along. The projected cost for the land and creating new titles is somewhere between 140-145K. The build is about $130K. Re working with others. Basically, this hasn't been much of an issue, one project manager helps sort that out. Financial processes are transparent because money will go through the newly formed company. Anyone needing to back out at any stage early in the process will be able to do that. The syndicate has the option to buy that person out themselves or introduce another person to take over the share. We have all signed a contract stating that once titles are issued, the share can be sold at any time to any buyer willing to proceed with the build. At a minimum, if one of the 8 wish to sell then they will receive a guaranteed 30 K more less any costs. Will let you know how it all proceeds, as we all have every intention of seeing this right through.