1. A high level of experienced is required.
A higher risk level is required due to the higher amounts of money typically involved.
2. Education and mentors are the key to success.
It's highly advisable you don't venture into property development without learning the ropes first. Both the theory and practical from people who have been there before.
3. Do a course. Better still, do a number of courses in property developing.
Not only will you learn a lot, but you will also have the opportunity to seek out mentors, and build relationships with other developers.
4. Build your Team of Experts.
Make sure they are working in your chosen area to develop.
5. Get an understanding and focus on what type of develop you wish to work on.
There are many options to choose from. So be diligent in your research and deciphering on which direction to head in. The first one you consider may prove to be the best option for you, but you won't know, unless you research other options. Don't rush something that requires a significant amount of monetary and time investment.