How to use equity to purchase another property

[Trey Rittenhouse]

I have purchased my first home, which I plan to live in for my first year and then rent out, but I’d like to start looking for my next rental to purchase. I’m just having trouble understanding just how to use my equity in this home to purchase my next home. Some of the questions I find myself asking are: Are there requirements on how much equity you must have to use it or can I use any equity I have as collateral? Also, what would be my first steps in trying to use my equity? I’ve been trying to understand the whole process more, but I just can’t seem to find a definite answer.