yes, exactly also having money to pay them last but not least, before you get a CTO, get some good technical advisers. They can be your virtual CTO until you get a real one, and help you to vet candidates too.
Hmm... what's the best place to meet technical advisors? Are these just friends, or would they want some form of compensation, assuming they just advice and don't have to stand in as CTO, maybe just do interviews...
If you can find a local community for startups too, I would advise going to the meetups and see who's interested. You may even find the CTO you're looking for there.