Would Appreciate Some Perspective

I preemptively apologize if this type of post has been reposted to high hell but I'm mildly frazzled and — dare I say — flummoxed. I'm applying to all real estate private equity firms I can find but have hardly heard back. I've created a spreadsheet and applied to over 100 for summer 2022 (started applying in May). Only made it past HireVue with one company even though I feel like I nail the behavioral stuff. What am I doing wrong? 

Here's what I /am/ doing. 

-I'm a rising junior business major at an ivy league 

-3.86 GPA

-VP of RE-related club

-RE analyst at a student-run hedge fund

-some solid work with a real estate developer and founded my own business with paid employees, netting several thousand $

-cool excel modeling and data aggregation this past summer as prof's research assistant

-Enough REPE acumen to get thru interviews (cap rate, MOIC, IRR, growth vs value, some modeling, etc. but taking Intro RE class upcoming fall)

I'm applying a lot on Handshake and personalizing cover letters to smaller/boutique firms. 

Usually my strategy is finding school alum on Linkedin that work for the company. Search them up on Apollo.io to find their company email and cold-email them short intro + resume asking to chat about company / position. I'd say I get a response 40% of the time. Phone calls go great — last around 45 mins and say they'll talk to their colleagues about me. 

But, alas, haven't really heard back from companies regarding interviews. Is anybody else going through the same thing right now/has gone through it — feeling like they're giving it all they got but not getting great returns? Do I just have to trust the process and keep doing what I'm doing, or is there something I'm noticeably doing wrong? 

(also talked to career counseling but they always just tell me "hAvE yOu ChEcKeD oUT a nEaT tHiNg cAlLEd hAnDsHaKe?")