If you are marketing to other investors you have to be careful and make sure you meet the requirements for licensing under the Corporations Act if necessary.

yes

Its your responsibility to register and pay for land tax if required. SRO is a state govt department and ATO is Commonwealth so they don't work off the same tax returns of work together but they do share data. There are also different rules such as the absence from your main residence exemption with state laws being much tougher than the commonwealth tax acts – at least in NSW>

So are they proposing you buy the investment property solely with the LOC and that it wouldn't be used as security?

That is still a fair bit of money left and will probably take you a few years to pay it off so it may be worth looking into changing loans. The redraw fees look too high to work around.

Business in your own name can be risky – what if you have a contractual dispute for example and it goes to court. But since you are selling online the risks would be generally low.

Elle

There is a huge difference between and offset and redraw. It may work out the same in terms of interest, but there are whole lot of tax issues.

I suggest never pay extra off a loan but always use an offset.

And NEVER use a LOC for a loan but only to access equity. If you use a LOC it will be the same as constantly using redraw. You could end up with a large loan with none of the interest being deductible.

This is what I suggest
1. IO loan on main residence with a 100% offset account
2. Separate split on the available equity as a LOC. This should only ever be used to pay investment expenses and deposits etc. Never pay this off, but just pay the interest each month
3. A new IO loan for the new investment property. No offset needed and never pay any extra off this loan.

Once loan 1 is paid off then you can transfer the offset account to loan 3 the investment property.

If you are hopeless with money then maybe you should have PI with loan 1.

Also you should not be running a business in your own name. This is risky. If you will continue to do so then there is probably no reason to use a separate account but just use the offset account so that you save some more interest.

And combine this with using the credit card for FF points. But becareful with buying personal items and business items and then  paying off the investment portion with the credit card.

The vendor may have a change of mind after accepting, but there would be a binding contract – but they still may be able to get out if the vendor had not paid the deposit, for example, by the required date.

that would probably be ok. fax and email – scan with signature if posisble

Well, it could be and it would usually stop there.

But with contract law there only needs to be a few things for a binding contract relating to land:
1. Price
2. Parties
3. Property identification
4.

I think it is the 4 Ps – can't remember the 4th one though!

So if a letter of offer contains the names, address, price etc of the property then this could be enough to be the contract.
But, there are also legislative requirements that certain searches be provided prior to the contract being entered into – but if these were provided separately they could still form part of the contract in the form of the letter.

It is unlikely that a vendor would try holding someone to ransom over this but it is possible.

This is not necessarily true. The letter of offer could be the contract.

To withdraw the offer immediately write to the otherside before they accept.