A California businessman used his life savings and a high-interest loan to acquire an entire desert town, marking one of the most unusual real estate transactions in recent years. The purchase of a small community in Inyo County reflects a growing trend of private buyers acquiring entire municipalities, raising questions about local governance and economic control. With the transaction completed in 2018, the move has drawn attention to the financial risks and long-term implications for residents. The story explores how such large-scale acquisitions reshape small-town dynamics and what it means for future development.
Brent Underwood bought the town of Cerro Gordo, located in Inyo County, for $1.4 million in 2018, using his “life savings” and a high-interest loan to purchase it.
