Is it advisable to refi with cash out or line if credit to buy another house?

For example: Do you fancy your credit being ruined, if/when you default?

Banks/credit unions/“portfolio lenders” will usually require loan applications, financial history docs, other various paperwork before being approved and most take a bit longer to close.

They are in their 60's with no pensions, retirement plans, or property.I'm planning on helping them to purchase a home soon, possibly using my credit to do so unless we can find an owner finance or similar situation.My question is this: is there a way I could use my credit to help them buy a home while preserving my buying power for future deals that I want to do on my own?

I will be doing flips and have my credit line approved.

You should speak to the commercial loan departments at the banks and/or credit unions.

Establish credit if you haven't alreadyStep 3.

Issue is my credit is damaged working on repairing it.

Theres a home equity line of credit and a home equity loan.

Sell or purchase with contingencies that require the buyer/seller to cooperate with your search for a suitable replacement or to wait for your sales before scheduling closing.