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Viet Ha Do is the CEO and Chairman of Tennessee-based real estate investment and advisory company, Habringer Group, Inc. She formed the Habringer Group with seasoned real estate investor, Paul Folkes, back in November of 2013. Since its inception, Habringer Group has focused its activities on identifying and investing in underperforming multi-family and commercial real estate assets located in the Mid-South region of the United States.
Throughout her career, Viet Ha Do has played a central role in value-add processes by bringing superior organizational skills, attention to detail, and a positive attitude to daily work. She does not rest when a real estate project’s goals are met. Instead, she seeks new and innovative ways to continually improve day to day management of multifamily and commercial investment properties.
Viet Ha Do continuously seeks out new real estate projects where she can apply her experience from the financial sector and 12 years of wide-ranging experience in multi-family real estate investment, management, and development.
We spoke with Viet Ha Do who shared how Habringer Group works to have a positive impact on the environment, as well as the technology and tools she uses everyday in the real estate industry.
After acquiring a property, where do you find the most success in raising rent based on the capital you put in?
Most of our value-add capital improvements focus on the interiors of units with a strong focus on flooring upgrades, as well as kitchen and bathroom renovations.
While the exteriors and common areas are very important to a tenant’s overall experience, one needs to remember that most time is spent indoors and this is where tenants want to see the bulk of improvements.
What cities are you focusing on right now? Why?
The Greater Memphis area remains our primary focus at this moment mostly due to very favorable underlying economic and employment trends resulting from high demand for transportation and logistics-related services. In addition, valuations in Memphis continue to be quite compelling when compared to other markets.
Please tell us more about your company’s sustainability / ESG principles and their impact.
I believe businesses can make a positive impact on the environment in many ways. Our ESG principles range from long-term planning to day-to-day operations.
We plant trees, bushes, and flowers for our resident’s enjoyment, but also to assist nature in producing more oxygen. We keep our carbon footprint as nominal as possible by efficiently planning our maintenance and supporting staff schedules to avoid the need to travel from one property to another. We also purchase products in bulk and in advance to eliminate the need for frequent trips to procure supplies.
Furthermore, we upgrade our residential units with energy-efficient appliances and heating-cooling systems. We insulate windows and all the points of entry to reduce the loss of energy.
What technology or tools specific to your industry can you not live without?
The technology I rely on daily is nothing fancier than our tested property management software. As mundane as it sounds, it is an absolutely crucial tool that helps us keep abreast of both the big picture and the small details. We review numerous reports every day and this allows us to monitor all of the aspects of the rental process, outstanding collections, compare current spending to the budget set for the month, and ensure that maintenance work is being addressed timely and efficiently. It is a great tool and really the only one we need.
Please share your predictions for the multi-family sector in the year ahead.
I see a number of dark clouds gathering over the multi-family sector. The combination of rising interest rates, high inflation, decreased consumer spending power, and economic recession will likely have a negative effect on the multi-family sector. It remains to be seen how deep and long-lasting it may be, but I believe that it is prudent to be very cautious when evaluating new opportunities.
