Land Development Deal

[Jeremy Pommerening]

HI All,

My first time to post.  If this is the wrong venue please accept my apologies.  I bought a house and property about 5 years ago in an area that is growing like crazy.  Since I bought the property they've put several neighborhoods in across the street.  I have 4.67 acres of land and it looks like I can submit a development plan for .33-.5 acre lots.  I would be looking at 8-11 homes potentially.  If I develop it myself it looks like the total value of the sold lots would come in anywhere between 1.4-1.9 million roughly.  Then if a builder comes in afterward to build custom homes there is potential to partner as well for a few extra $$$.  However, I've never developed a property and don't have experience going to the city and pulling the required documents and filling out the paperwork.  I think it's in my best interest to partner with a developer but I don't want to give up a huge chunk of $$ either.  How would you structure a deal if you were in my shoes?  Ultimately I'd like to maximize my profit of course but need to make it attractive to a partner as well.  I would potentially sell out and let someone take the whole thing also - at the right price of course.  Thanks - just learning the ropes and trying to get my ducks in a row so I know what I'm talking about when I approach developers.  I've spoken with 3 already and they are all interested but want to know what my goal is.

Thanks in advance

Jeremy