Very new to purchasing real estate
I am a wholesaler, but two properties came my way that I have no intent of assigning, as I think it's time to build my portfolio. Both properties are next to each other, one is a duplex, the other a Single Family home. I can purchase both properties for $60,000. The Duplex alone is worth $78,000 and the Single family worth $22,000. Both need cosmetic work and minor repairs. I am not a do it myself type, so I plan to pay to get everything fixed out of pocket. Couldn't I just refinance right away and get all that missing equity back? Then use that money to fund the repairs? I am not familiar with refinancing, and apparently most refinancing calculators aren't designed for investors.