R
eal estate mogul Barbara Corcoran's path to becoming a multimillionaire wasn't by chance - she approached real estate investing as a science and took calculated risks. Her advice to "beg, borrow and steal" to get into real estate early is tongue-in-cheek, but Gen Zers seeking wealth would do well to heed it. Experts agree that Corcoran's approach is sound, and here's why: real estate appreciates in value and rents increase over time. Lindsey Harn, a real estate agent with Christie's International Real Estate, notes that investing early allows for long-term growth and potential retirement income.

    However, Jeff Lichtenstein, a real estate broker, cautions against taking on too much debt or making impulsive decisions. He recommends buying a home only if you're in a stable job and industry, and don't foresee an out-of-state transfer. "We live in a world where prices may seem to always go up," he says, but this isn't the case everywhere.

    Investing in real estate early on can also help form strong financial habits that last a lifetime. Jimmy Harris, a real estate agent and investor, notes that managing property requires saving, budgeting, and planning - all essential skills for healthy finances. When investing, Harn advises looking for properties with potential for growth, such as room to add bedrooms or increase income through an ADU (accessory dwelling unit).