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Chinese Investors love Miami. Caroline Li Griffith is purchasing her third luxury condo in Miami. Griffith, a private real estate investor originally from Zhenjiang in Jiangsu province splits her time between New York and Miami. “I love the Miami lifestyle, its weather and the people,” Griffith explains.
Griffith recently bought two-units in the pre-construction phase at the PARAMOUNT Miami Worldcenter. The price tags—a one bedroom for over $800,000 and a two-bedroom rings in at $1 million. Completion isn’t scheduled for at least a year. “I like condos for investment because they are easier to manage. When I buy pre-construction, I can pay in installments before completion which is also attractive.”
Right now, Griffith isn’t sure if she will lease both units out or have her mother who lives in Argentina use one as a second home. “The ideal situation is about good cash flow where one unit is leased with the rental income paying for the other unit,” Griffith explains.