Wanting to start a property management company but do not have a brokerage license?

[Patrick Crehan]

So me and my friend have been investing in real estate for a few years now. We have been in the talks about starting a property management company. 

I have my real estate license but have read that you will need a brokerage license to own a property management company or work under a brokerage. I want this company to be in my name (LLC) I want to hire my own contractors, accountant, etc. but don't know the stipulations with brokers and how much a broker really gets involved in your business. For example, does the brokerage have to own the company? Can they just have a small share in it? Are their certain broker holding companies that deal with these types of situations?

I was just curious about this because my friend's dad owns a property management company but I'm pretty sure he doesn't have a broker's license (eventually me and my friend will sit down with his dad and pick his brain on this). 

Also, another thing I want to add is that my friend who would be my partner in this does not have a real estate license. What is he legally allowed to do in the company if we were able to successfully bring it to reality? 

Thanks guys!

From Cincinnati OH 

[James Wise]

Quote from @Patrick Crehan:

So me and my friend have been investing in real estate for a few years now. We have been in the talks about starting a property management company. 

I have my real estate license but have read that you will need a brokerage license to own a property management company or work under a brokerage. I want this company to be in my name (LLC) I want to hire my own contractors, accountant, etc. but don't know the stipulations with brokers and how much a broker really gets involved in your business. For example, does the brokerage have to own the company? Can they just have a small share in it? Are their certain broker holding companies that deal with these types of situations?

I was just curious about this because my friend's dad owns a property management company but I'm pretty sure he doesn't have a broker's license (eventually me and my friend will sit down with his dad and pick his brain on this). 

Also, another thing I want to add is that my friend who would be my partner in this does not have a real estate license. What is he legally allowed to do in the company if we were able to successfully bring it to reality? 

Thanks guys!

From Cincinnati OH 

 You need to get your broker license.