Cerro Gordo has been deserted for a hundred years. This millennial bought it for $1.4 millioninvestinyou (In partnership with acorns.)
The thin, bumpy dirt road leading to Cerro Gordo, an isolated ghost town in California's Inyo Mountains, is eight miles long and takes nearly 45 minutes to navigate. The town is just over 200 miles north of Los Angeles and resembles a 300-acre playground for Wild West reenactments.has a different vision: He wants to turn Cerro Gordo into a luxury travel destination. To make it happen, he and his business partner, Jon Bier, purchased the place for $1.
The nearest city, Lone Pine, is nearly 50 miles away, making even routine purchases an inconvenience. Only three of the 22 buildings have running water, sourced from a 2,500 gallon water tank. All of it has to be trucked from a town about an hour away. Replacing the broken water pump under the town would cost hundreds of thousands of dollars and skyrocket their budget.
While restoring the town has its challenges, Underwood isn't new to the real estate business. The Columbia graduate lived in and operated a small backpacking hostel in New York City after an abrupt career change, and he currently lives in Austin, Texas, where he operatesThat project led Underwood and Bier to think bigger — and to Cerro Gordo.
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