Beginning to Wholesale

Member since 2026 · 7 posts · 8 votes

Hey everyone, I'm Jake from Connecticut.

I'm getting into wholesaling — would love to get my first deal soon. Figuring out whether I stay local to CT or go virtual in another market.

Would love to connect with any cash buyers, other wholesalers, or anyone in the space who's willing to talk. Hoping to learn firsthand from people who've been doing this a while. Feel free to reach out!

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Solomon Weiss
Lender · Nationwide · Member since 2024 · 3 posts · 0 votes
2mo
Hi I hope you will have a lot of success in wholesaling
let me know when you have a good deal I am looking to buy in the area
thanks
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Samuel Eddinger
Meriden, CT · Member since 2018 · 700 posts · 501 votes
2mo
@Jake Tomlin - I'd be happy to connect. DM me if interested. I am a cash buyer and flipper in CT.
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Bogdan Constantin Stefanide
Realtor · Norwalk, CT · Member since 2016 · 203 posts · 69 votes
2mo
Welcome, Jake — fellow CT person here.

Since you're starting now, timing matters: Connecticut wholesalers are required to register with the Department of Consumer Protection starting July 1, 2026, and must disclose their wholesaler status to the property's original seller.
- Registration costs a nonrefundable $285 fee and is valid for two years, renewable biennially.
- Sellers must get a three-business-day window to cancel the contract, and closing dates can't be set more than 90 days out.
This is a genuine shift, not just paperwork — wholesaling in CT has existed in a legal gray area for years, often functioning as an end-run around broker licensing rules, and this closes that gap. If you're not registered and compliant when the law takes effect, you're exposed in a way that didn't exist before this year. Worth building the registration and disclosure/cancellation-window language into your process now rather than retrofitting it later.

On local vs. virtual — I'd lean local starting out. CT is hyper-local (values and buyer appetite can shift town to town), and that knowledge is hard to build virtually when you're new. Local investor meetups are the fastest way to build a real buyer's list.
Also add me to your buyers' list for any deals you'll get.

Good luck getting the first deal.
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- Jake Tomlin
  OP
  Member since 2026 · 7 posts · 8 votes
  2mo
  Quote from @Bogdan Constantin Stefanide:
  
  Welcome, Jake — fellow CT person here.
  
  Since you're starting now, timing matters: Connecticut wholesalers are required to register with the Department of Consumer Protection starting July 1, 2026, and must disclose their wholesaler status to the property's original seller.
  
  Registration costs a nonrefundable $285 fee and is valid for two years, renewable biennially.
  
  Sellers must get a three-business-day window to cancel the contract, and closing dates can't be set more than 90 days out.
  
  This is a genuine shift, not just paperwork — wholesaling in CT has existed in a legal gray area for years, often functioning as an end-run around broker licensing rules, and this closes that gap. If you're not registered and compliant when the law takes effect, you're exposed in a way that didn't exist before this year. Worth building the registration and disclosure/cancellation-window language into your process now rather than retrofitting it later.
  
  On local vs. virtual — I'd lean local starting out. CT is hyper-local (values and buyer appetite can shift town to town), and that knowledge is hard to build virtually when you're new. Local investor meetups are the fastest way to build a real buyer's list.
  Also add me to your buyers' list for any deals you'll get.
  
  Good luck getting the first deal.
  
  Hi Bogdan,
  I am aware of the new law as of July 1. That is why I am on the fence about local vs virtually. There are plenty of wholesaler friendly markets around the country, it just becomes difficult without the in person connection.
  0 Reply
Lucas Flowers
Virtual Assistant · Egypt · Member since 2026 · 51 posts · 15 votes
2mo
Welcome, Jake! If you do end up going virtual, worth knowing early: once you're calling a market you're not physically in, follow-up discipline becomes even more important since you don't have the local presence to build trust in person. Happy to answer anything as you get going.
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Lee Burns
Investor · Chicago, IL · Member since 2018 · 315 posts · 149 votes
2mo
Howdy Jake!
I don't have much personal success wholesaling, but I work with and know quite a few wholesalers. If you ever need help with double closing or EMD funds, I'd be happy to help. Let's chat some time when you're free - I'd love to say hey over a call. My digital business card with all of my contact info is on my BP profile page
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Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
2mo
@Jake Tomlin, Which market to focus on, staying local in CT versus going virtual, is more of a strategy call for other wholesalers here to weigh in on, so I'll leave that to them.

Where the tax side comes in, wholesaling income is active and ordinary, usually with self employment tax on top once you're doing enough deals to be considered a dealer, so worth getting an entity structured before your first assignment fee comes in rather than after. Please don't create multiple LLC without understanding tax impacts.

If you decide to go virtual into another state, keep in mind you'd generally file taxes in the state where the property sits for that assignment, not just Connecticut, so going virtual across a few states can mean multiple state filings piling up if you're not tracking that from the start.

Happy to connect!
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Brett SynickyPro Member
Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 873 posts · 498 votes
2mo
Welcome to the BP community! It is a great place to meet new friends and learn about various aspects of real estate and more.

Read Beginner’s Guide to RE investing to help you get started: http://www.biggerpockets.com/real-estate-investing

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Alisha Jennings
Investor · Member since 2019 · 6 posts · 0 votes
1w
@Jake Tomlin Hi Jake! I'm a cash buyer in the CT area. Please add me to your buyers list. Good Luck!
0 Reply
- Jake Tomlin
  OP
  Member since 2026 · 7 posts · 8 votes
  1w
  Message me! I'd love to know your buy box, and would love to share something with you!
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