Looking to purchase my second property

[Spencer Herrick]

   I've now owned my first rental property for about four months and am now looking to purchase my second property. What are my options in financing my second property with the least amount of out of pocket money and/or using the equity in my first property. I just want to make sure I'm not overlooking anything. I put 25% down on my first property so I assume I have at least 25% equity (especially since I bought at a great price). Thanks in advance!

[Robin Simon]

Quote from @Corby Goade:

Assuming your DTI is in good shape, the easiest way to put the least down out of pocket is to use a HELOC on your current property as your down payment and conventional loan for the rest of the purchase.

Of course there is the rabbit hole of owner carry options too, but the above is the most straight forward option. 

Best of luck!

I would agree with this - its probably too soon / not economical to do a cash-out refinance at this point - options for freeing up equity would probably be best served via HELOC or something to that effect