Do I need a license to own and rent an apartment complex?

[Account Closed]

Hey everyone! I really want to build an apartment complex from the ground up next to a college that doesn't have anywhere for students and young adults to live besides a basement in a old raged home. 

Before I go to the bank and discuss my options, do I need to have a real estate license or brokers license to do this? Or, once its built do I need any type of license to lease/rent out the apartments?

I have so many people telling me yes and so many others telling me no. Someone please help! Do I need a license or not?

[Greg Dickerson]

You do not need an RE license to own and run the building but you will need a licensed GC to build it.

There is a lot that goes into building ground up. You need to verify a number of things before you buy the land. 

Check with the city or county to determine what is required for all approvals including site plan and building permits, proffers, water/sewer tap fees, bonding requirements, inspections and CO process and time frame for all approvals.

You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Check to see if you have to install any manholes, fire hydrants, curb, gutter, sidewalks, street signs, street lighting any specific street design or access requirements,.

Check DOT requirements for access, stop lights and permits, traffic studies

DWQ requirements for permits, permit fees, time frames

This is a broad overview of the process and your civil engineer can handle all of this but it's good for you to know exactly what's required.