Long term viability of flipping and wholesaling

[Sean Brennan]

Hey y'all,
I have been spending alot of time lurking on here, listened to the podcast, and I am now listening to the audio from the BP Summit. I have also read alot of J Scott's 123flip.com and I just ordered Marty Boardman's book. I also plan to start attending investor club meetings and networking events soon. However, I just have a nagging question I need answered: Are flipping and wholesaling viable long term strategies in any market? Or are there periods in market cycles where this work could evaporate for 2-3 years? I can understand a few months slow here and there... but, for example, is this stuff just really hot right now because of the cycle we are currently in...

Maybe I am just being glass half empty but I would love to know if a competent, smart, hard worker with integrity can make money doing this stuff in all market cycles... Any insight from people who have been doing this for a while would be appreciated!