John McAfee's Painful Deal in the Desert

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 When the real estate market began to slide in 2007, it was the high-end that took the brunt of the blow. In an effort to liquidate their dwindling portfolios, many owners sold their multi-million-dollar properties at massive losses. Entrepreneur John McAfee was one of them. In fact, when he was forced to sell off his properties because of the financial crisis, he lost most of the fortune he had amassed with his security software firm during the dot-com boom. Once holding a fortune in excess of $100 million, the founder of McAfee antivirus software now has an estimated net worth of $4 million, due largely to his real estate losses.Click ahead to take a look at the property he auctioned off in August — the 157-acre aerial adventure compound he built in the high mountain desert of New Mexico — the property on which he took a nearly 90 percent loss.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 John McAfee began auctioning off his prize properties in 2007, including a $25 million estate in Colorado that went for $5.7 million, a multi-million Hawaiian property that sold for $1.5 million and, in August, the 157-acre property in Rodeo, N.M. (pictured), that he spent $11.5 million to buy and develop. It fetched roughly $1.6 million at auction, including vintage automobiles, ultralight aircraft, multiple runways and hangers, a cafe, an outfitter and convenience store and more. According to McAfee, it was his most painful sale — a nearly 90 percent loss for the entrepreneur.He says of his real estate purchases: "At a certain point, it doesn't make much difference if it's a $2 million or a $15 million house. If your checkbook is large enough, it's the same thing."

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 McAfee bought the New Mexico property in 2004 after becoming enamored with aerotrekking and taking flying lessons. He then proceeded to build the complex where he and his visitors could fly the lightweight aircraft.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The property, auctioned in pieces by Miami-based Auction Company of America, included an 80-acre private estate with a 3,500-square-foot, five-bedroom, three-bath main house with desert landscaping, two guest houses and a private hangar.At peace with his losses, McAfee now says the process was cleansing. "People don't realize that ... it's not you that owns stuff, it's stuff that owns you."

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The main house also includes an expansive outdoor patio with television viewing area and a fireplace.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 A separate patio area houses the swimming pool.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The interior of the main house features high ceilings, an open living room with fireplace and McAfee's large collection of rare and valuable artifacts and Orientalia, including a first-edition book collection, all of which was auctioned.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The two guest houses are roughly 1,800 square feet each and include such ammenities as master suites, fireplaces and custom closets.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The commercial complex is the hub of of the property's Amigos Del Cielo Airpark Subdivision that McAfee built just north of Rodeo, N.M. It includes the Sky Gypsy Cafe/Clubhouse with a small commercial kitchen.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The clubhouse complex also houses a movie theater, a library/gameroom and covered patio and a covered deck looking out at the Chiricahua Mountains.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The clubhouse complex also has a bathhouse and laundry room. Surrounding the clubhouse are 15 RV hookups. McAfee's 10 Airstream trailers that sat at the site were auctioned separately.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The greenhouse is adjacent to the clubhouse and is powered by propane. Nearby is a four-bedroom manufactured home, a runway and hangars.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 The four air-conditioned hangars built to house light aircraft each have power doors and indoor plumbing, and are located just beyond the clubhouse, right on the runway.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 Several vehicles also were on the auction block, including a 1923 Model T Ford, a 1931 Model A Ford pickup, a 1960 Chrysler Imperial, a 1929 Model A Ford 4-door sedan, a 1959 Buick, a 2006 Hummer, a Dresser Roller, an electric car and an ultralight.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 Also included was a 10-acre parcel with a retail building housing two active tenants: a full-service general store and an outfitter supply store. The building, located on Route 80, also includes two efficiency apartments.

Photo Courtesy: Auction Company of AmericaPosted 4 Dec 09 McAfee also auctioned three 10-acre parcels along the airstrip for a very small amount, according to the auction company.

CNBCPosted 4 Dec 09 So where is McAfee now? He's sticking to his passion for aerotrekking by starting an ultralight tour business in Belize. His new company will offer tourists the opportunity to skim just above the rivers and high above Mayan ruins. He's also starting a ferry service and an eco-lodge on his newest property. And if that weren't enough, he's cultivating jungle plants there that he hopes will one day be used to create new medicines."Entrepreneurism," McAfee says. "It's a hard habit to break."

Visit The Bubble Decade for show times.Slideshow: Bubble Blowers: Companies That Fueled the Tech Bubble

© 2012 CNBC.com