What is my issue? Market in CT.

[Dimitri K.]

Hello Biggerpockets, 

First post here, and it is fueled by a bit of frustration as I truly have a desire to further invest in multi families but the deals just have not been working out. I know I am making a mistake somewhere so I am hoping someone can identify what I'm doing wrong or a suggestion. Brief history: I bought my first house in 2018, a duplex I am currently house hacking in Wallingford, CT. Nice house, good neighborhood, great tenant and I am looking to keep it long term as a rental. Not exactly cash flowing right now but I live in my side for next to nothing out of pocket. During the years I've lived here I put away cash for a down payment on another deal, ideally another duplex in a decent neighborhood. I plan to go with a conventional 30 year loan with 25% down for the next one I purchase. 

A listing recently popped up on the MLS in Southington, CT. I was on it to schedule a showing in less than 3 hours of it listing. The selling agent says highest and best by Monday @ 5PM and we scheduled a showing for the following day. The night before our showing, the listing says contingent and she cancels us. This frustrates me as I would have offered well over asking price if the house wasn't falling apart which it appeared it wasn't. I can imagine the offer she accepted was most likely cash and over asking price.

Is it right to believe that the MLS is just too competitive right now if you don't have all cash? I've began to take another approach and started sending direct mail to multi family owners, we will see how that works out in time. Should I be looking for another agent to find me listings? Wholesaler? The properties in CT are expensive but I'd like to continue to invest locally.

At this point, I am willing to break out of my shell and try anything......