Republic State Mortgage Company
Republic State Mortgage was established in December of 1994 and is still privately owned and operated by Robert Wagnon, a native Texan with strong ties to the community. We began expanding outside of Houston in 1998 with our first branch office in Dallas. Currently, we have branch offices throughout Texas and in Florida, Kentucky, and Ohio. We are licensed or exempt from licensing in 18 states. Republic is a proud winner of Inc. Magazine's prestigious Inc. 500 Award in 2003 due to 754% revenue growth between 1998 and 2002. Our success is due primarily to the talent of our people and access to hundreds of mortgage products at industry best pricing. Our management team has a combined 150 years of mortgage experience and is actively involved as members and board members on local, state and national mortgage broker and banker associations. As a member of Lenders One, a national cooperative of independent mortgage bankers with an aggregate volume of over $45 Billion and the 9th largest originator in the country, Republic has approvals with all the largest mortgage loan buyers in the country with the very best pricing. Stacy Bauman
Senior Loan Officer
Phone: 817-939-6308
Fax: 1-866-597-0975
Republic State Mortgage Company
5430 Glen Lakes Drive Suite 170
Dallas, TX 75231
Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
|
| Q |
Which U.S. hotel has more fountains than any other hotel in the world?
|
| A |
The Bellagio Hotel in Las Vegas, Nevada has more than 1,000 fountains embellishing an 11+ acre artificial lake.
|
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERTS™ 
