Rumor FALSE - Rusty Gregory to purchase Tallus Private Residence Club
This is something I just heard yesterday on the grapevine in Mammoth California. Although there are discussions between Mammoth Mountain Ski Area and the developer of Tallus (who by the way is the designer/builder for Altis, Mammoth Mountain’s first product since the purchase by Starwood Capital in October of 2005). Nothing is official yet since Tallus is still in bankruptcy court to determine how, and with who, the project will proceed.
Tallus is an equity sharing real estate purchase. You can purchase full ownership of one of these 5000sqft custom built homes; or you can purchase a 1/6th or 1/12th share for a fraction of the cost. Usage is determined by your share. You can rent your designated time and for a 1/6th share, it’s thought that an owner could earn $40,000 - 50,000 gross if they put it on the rental program.
If Mammoth Mountain were to handle the rentals and brand it as a MMSA property, what an investment property Tallus would be then. We’ll have to wait and see what happens.