Property developing

[acannydoitji]

Being a novice I thought I'd ask for some advice here first - probably putting my head on the block but here goes. I have a couple of investment properties and have equity of circa €650k in them excluding family home which has an additional €6-700k of equity. I want to get into developing via purchasing detached houses, knocking them & building 2/3 units instead or build in large side gardens etc. I know a lot of people are doing this already. I don't have a background in construction. Whilst I have a number of useful tradespeople I can call on eg plumbers/electricians/plasterers I don't have any specific builder that I can call on.

I'm looking for advice as to how best to start off. What are the pitfalls I need to look out for? Are there tax 'tricks' I can avail of that will limit my liability?

I know its a bit vague but any advice would be greatly welcomed.

Thanks