He lost everything. Now he makes up to $1M/year flipping brownstones

The gist

1. The basic math: buy a distressed brownstone for $2.8M, spend $2M on restoration, sell for $6.2M, and net roughly $500K to $1M.
2. Permits and delays are the silent profit killers; one project took 2.5 years just to get approvals before any real work began.
3. O'Brien adds value by exposing original brick, widening staircases to bring in light, and finishing basements and in-law suites for extra income.
4. The business demands nights, weekends, and constant hands-on management, and does not run without the owner actively involved.