The Snowflake Bubble

The Snowflake Bubble


The Musings of a Concerned Multi-Family Professional

– Adam Marcus Hendry

March 17, 2020

The Millennial Snowflake Bubble

The Coronavirus is the pin, and the balloon is exploding with Snowflakes.  I showed my initial write up to my wife and she thought I should soften it up.  She’s probably right, but then again why write another article everyone has already read? Sometimes medicine tastes terrible but you gotta take it anyways.


Let’s start off and say if you look at this from a market and history perspective, it is the same thing, again.  Yes, really.  When the market implodes, panic, and hysteria ensues.  Sound Familiar?  The Panic of 1819, 1837, 1857  1873… 1918 Spanish Flu, H1N1, Zika and on and on and these are only a few.  The list is literally endless.  What a short memory we have because, “this one is different.”  Um, no it’s not just check Wikipedia(kidding). Well actually, there is a major new problem…Snowflakes!  I thought Global Warming was going to cure that…. can I even say that?


Anyway, many Millennials grew up with participation trophies, and now over the last 10 years grew up in a super bubble where getting a job has been pretty easy.  They haven’t had to navigate difficult issues, and always put what is recently socially acceptable over business practicality.  Not to mention the bull market over the last 40 years, parents of Snowflakes and Snowflakes themselves are now in a rude awakening.  Did I seriously hear “but we will just work from home?”  Companies executives I have spoken with, who this month have employees working from home, are seeing productivity (think revenue) drop over 50% just in March!  Working from home means your new participation trophy is being fired remotely.


If this all sounds harsh, it is basically just reality setting in.  Millennials are leaders now, politically speaking, around the world as well as in many companies.  Leadership isn’t easy, it is about navigating uncharted waters, making tough decisions, and having a mature long-term perspective.  This article isn’t about being sympathetic to the existing situation, or delving into the medical assessment of the Coronavirus (I’m fully aware of Immuno-compromised and elderly people being at risk), because quite frankly the media has already spun enough end of the world hysteria that the economic drop is becoming a self-fulfilling prophecy.


Hello!  What do you expect if no one shows up to work?  The Corona Virus will eventually and probably be cured in the near future; however the current economic and business decisions will lead to certain (financial) death.  Millennials are now 50% or more of the work force and unless medically statistically speaking something changes, usually not at risk from COVID-19.  During work hours, Millennials are doing laundry, playing video games, drinking (craft) beer, and watching Netflix in record amounts now…. you think this is economically productive?  Snowflakes have now turned their apartments back into adult college dorms.


At Tzadik our motto as of recent has been “business as usual.” Seriously, we are talking about people’s homes!  Being in property management we take very serious providing housing for our residents, and have double downed on our commitment to do our best given what seems to be terrible political and business decisions being made by worldwide leaders.  The Snowflake generation needs to wake up. This is nothing compared to World War 1 or 2, as simply working is 80% of success and no one is shooting at you.  Being a Millennial myself, I think we need to show a backbone and not dissolve into nothing at the first challenge we’ve endured in our professional careers.  As I’m typing this from my office, I’m thinking of a word from numerous Asian languages where the word for a “Crisis” is both an Opportunity and a Disaster at the same time.  Don’t be a Snowflake, be a throwback Millennial, let’s show everyone what we are made of.

Tzadik Management Finishes Busy Second Quarter with Massive Refinance

Tzadik Management Finishes Busy Second Quarter with Massive Refinance

Summer Lake Villas Portfolio
In May, Tzadik Management sold a portion of their portfolio consisting of 3 properties spanning over Fort Lauderdale, West Palm Beach and New Port Richey. Chief Visionary Officer, David Runyon, believes these properties have helped Tzadik Management progress toward their future goals:
“ The Summer Lake Villas portfolio brought a lot of synergy to our company. We believe that our time operating these properties has allowed us to confidently pursue our third-party and fee based management desires on a platform that stands on Company Culture, Values, and always looking to Make a Difference. ”

Miami Disposition
Tzadik Management has also completed the sale of the majority of their initial south Florida portfolio. The 11-property portfolio was brought down to just one after the sale of the 64-unit property in Opa-Locka at the beginning of June. Chief Investment Officer, Alex Arguelles, states:
“ What these properties have meant to our company is a great example of us Succeeding Together with taking into consideration all our relationships we’ve developed since the creation of our company. To see what we were able to do with these properties over the life of the investments is truly amazing. ”
The final property located in Western Miami Dade County, is currently under contract and set to close in the 3rd Quarter. The last sale will consummate the south Florida portfolio that started growing in 2010 and will now be completely sold in 2017, where Tzadik Management believes the market is near the top.

Massive Refinance
In addition to their recent sales in markets believed to be at or near all-time highs, VP, Michael Davalos spearheaded a major company institutional refinance on 15 properties throughout the state totaling $122,000,000.

This has substantially reduced the cost of capital and increased Tzadik ownership on the existing portfolio in excess of 4,000 units. Managing Director, Adam Hendry said
“ This refinance helped us Make It Happen strategically by repositioning ourselves as long term multifamily apartment holders , and bracing ourselves for what we view to be a quite uncertain marketplace in the next few years. We believe as the current cycle comes to an end, Tzadik will outperform the overall market and look to Never Stop Growing due to economic forethought. ”

We Never Stop Growing
Tzadik Management is extremely proud of their industry leading policies and procedures and plans on extending their upgraded operations to a third-party platform. With the goal of 10,000 units managed before the start of 2018, Tzadik Managment continues to be one of the most rapidly growing property management companies in the southeast.