Hot Market, Deal Fell Through, Need Help! Brainstorm please!

[Christopher Murphy]

Hi All,

I am in the Dallas-Fort Worth market. Very hot and still has not cooled down of substance. I've been looking since September, learned some hard lessons with lenders which wasted a few months. Made some offers, finally got a deal on condo, fell through because of HOA (lesson learned). The deal falling through discouraged me. I thought after holidays and taking a break, it'd be a reset and market will have cooled. I am typically very optimistic and faithful, but feeling slightly defeated. But recognizing it's more that I am new and learning in a tough time.

I have a purchase price amount up to $220K with 5% conventional owner occupied loan for first househack. I am with a W2 job that I was hoping to quit after I close on this property. I really wanted to have this property closed on by March because I am currently staying with family and I'm waiting to go full-time self-employed and have my W2 job get me my first deal. With the cash buyers and my price point putting me head to head with many other buyers in an area of exponentially expanding population, I feel I need to pivot, which is WHERE I NEED HELP:

In what ways can I pivot? Partnership? Get a short-term lease and wait for market dip with interest rates rising? If anyone has any other suggestions or can share thoughts on partnership ideas, please let me know. Thank you all very much in advance.

Best,

Chris