I think your last sentence kind of sums it up. You have to be patient.
Cheap? I think the key is to get a lighter momentum type car. An E36M3 with simple weight subtraction can be very quick and won't break the bank as long as the drivetrain holds up.
Dare I say... ///Miata!
2013 F30 328i Melbourne Red
2011 E90 M3 Monte Carlo Blue
2004 E46 M3 Imola Red