You ride it to the top and then take the government bailout.

A friend told me about a friend in Las Vegas who bought a big house prior to 2008, then HELOC’d it to the max to buy new vehicles, boats, etc. Took advantage of every opportunity to leverage himself to the hilt.

Housing went tits up, so he stopped paying the mortgage for two years, then mailed the keys back and walked away keeping the cars and boats.

Sure he had to declare bankruptcy, but after a couple years was able to repair his credit and buy another home. (The seven year mark remained but hey there were willing lenders).

Bastard made out like a bandit despite going bankrupt.