Want a Green Card? Invest in Real Estate

Like many of her fellow classmates at New York University, Yanchu Zhao has a busy schedule. A college junior, she has a double major in economics and journalism, and juggles classes, an internship and life with roommates in a rental near Herald Square.

But unlike many of her fellow classmates, Ms. Zhao came to the United States on a student visa. “A lot of students talked about how hard it was to get a job in New York and in the United States,” she said. “My parents heard that if I can get a green card, it would be easier for me to succeed.”

So two years ago, Ms. Zhao’s parents invested $500,000 in a hotel project on Bryant Park, knowing that their investment could be parlayed into green cards for the family. Three months ago, their paperwork came through…

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