Property Management Licencing Requirements - California

[Becky Watkins]

Hi,
My husband and I originally planned to start a property management company after a few years of wholesaling and building our own portfolio. First managing our own properties and then branching out to others.

Then we realized maybe we're wasting a lot of time and stress in a field we know little about (finding deals) and should jump right into starting the business. One thing that set us back a little was the requirement to have a license. I decided to go ahead and get that.

However, upon further research, it looks like it's a broker's license that I would need. It sounds like according to this website (http://www.dre.ca.gov/exm_broker_exper.html) that I would have to be a real estate agent for two years. I would have to be a real estate agent for two years just to be able to manage property? That doesn't make sense, because I don't see what listing and showing houses really has to do with managing properties.

The reason we want to do this is because we do have experience in this field, unlike any other aspect of real estate (my parents have both been agents at one point and I have no desire to pursue that). My husband has been the resident manager of the apartments (38 units) we live in for three years, and I have done the books and tax returns for rental properties through an accounting firm I used to work for.

I'm not sure if I'm reading it right. I want to get started on something proftable as soon as possible, because I have only been losing money sending out yellow letters for the past year trying to find a deal to wholesale. Thanks!