Is there a better finance strategy for large purchases than this?

[Patrick Philip]

Someone once told me that he "builds or purchases and repositions" at 75% of FMV. Then, after 3-12 months, he refinances at 100% FMV and they lend him 75% of the value, meaning that he got all, or most, of his money back in the first year.

Does anyone use, or has anyone else heard of, a better strategy than that?