Keys to Success When Investing Outside Your Home Market

Over the past decade, 17 Mile Real Estate has successfully acquired investment properties well beyond our headquarters in Conshohocken, Pennsylvania. Expanding into new geographic markets can be highly rewarding—but only with the right strategy, discipline, and local insight.

Partners Mark Roscioli, Ben Long, and Joel Garfinkel share the proven principles that have guided 17 Mile’s out-of-market real estate acquisitions, helping to reduce risk while maximizing opportunities.

6 Principles for Out-of-Market Real Estate Acquisitions

1. Know Exactly What You’re Looking For

Successful out-of-market investing starts with clearly defined acquisition criteria. Real estate databases and listing platforms are only as effective as the search parameters used. By identifying the right keywords—such as asset type, tenant profile, size, yield targets, and market characteristics—investors can quickly filter opportunities and focus on deals that align with their investment strategy.

2. Build and Maintain a Strong Network

Some of our best real estate investments have come from off-market opportunities sourced through brokers who understand our criteria. Actively networking with agents and industry professionals—and consistently reinforcing what you are looking to acquire—can lead to early access to high-quality deals before they reach the open market.

3. Communicate Directly with Listing Agents

While online inquiries are convenient, they are often filtered or delayed. We recommend contacting listing agents directly to confirm availability, request due diligence materials, and accelerate decision-making. These conversations also create opportunities to learn about other properties that may meet your criteria but are not yet publicly listed.

4. Leverage Local Real Estate Expertise

When entering a market we are less familiar with, we identify active local agents and firms with multiple listings in the area. These professionals provide critical market intelligence—such as prevailing cap rates, rental trends, vacancy levels, and tenant demand—that helps validate our underwriting assumptions.

Just as important, local brokers are valuable sources for referrals to trusted inspection, environmental, and legal vendors needed during the due diligence process.

5. Be Prepared to Act Quickly

Well-located, well-priced properties rarely sit on the market. Investors pursuing specific asset types should expect competition. Timely review of listings, quick follow-up, and decisive action are essential. Our approach is to secure a property and then expedite the due diligence process to determine whether the investment meets our return and risk thresholds.

6. Hire Local Property Management and Vendors

For properties located more than two hours from our home base, 17 Mile prioritizes hiring experienced local property management firms. While management fees typically range from 7% to 9% of collected rents, we believe the value of on-the-ground leasing and operational oversight far outweighs the cost.

We also carefully evaluate existing service providers during ownership transitions, often retaining vendors who are already familiar with the property’s systems while remaining open to improvements recommended by our property managers.

A Proven Approach in Action

More than ten years ago, 17 Mile applied these strategies to acquire a Dollar General–anchored strip center in Milford, Connecticut—a market outside our home region. The opportunity surfaced through a targeted search, and we relied on local vendors to assist with due diligence. After the acquisition, we engaged a local property management team to oversee operations and leasing.

Today, the property remains stable and fully occupied, demonstrating the long-term effectiveness of this disciplined, market-aware approach.

Expanding Beyond Your Home Market with Confidence

Investing outside your primary market can feel daunting. However, with clear criteria, strong relationships, local expertise, and a willingness to act decisively, real estate investors can significantly expand their opportunity set and build resilient, diversified portfolios.At 17 Mile Real Estate, this approach has been central to our growth and continues to guide how we evaluate and execute investments nationwide.

17 Mile Commercial Real Estate
Trusted Buyer. Proven Closer. Preferred Partner.