For honest sims,there is a similar trick with the Living in the Lap of Luxury:
- Easiest method would be a Party Animal sim, I imagine, so start there.
- Get acquainted with all the rich sims in the neighborhood.
- Buy a bunch of parking spaces. Visitors will park their car on them if they use it to come over for a party/visit.
- Throw a party, inviting all the rich sims you met over. The game does not differentiate between their cars and yours for property value, allowing all those nice expensive cars to push your value high enough to finish the LTW, and barely spending more than enough for a basic house.