Is wholesaling sustainable?

[Aroldo Villarreal]

I just finished wholesaling my first home without cost whatsoever other than $45. I just called a FSBO sign and the roller coaster of emotions started with excitement, fear, sleepless nights, and huge learning curve. Out of this deal I started building my buyer's list, learned more about rehab costs from contractor's themselves and from referring to @J Scott 's books almost every minute I got for help on rehab costs, learned how to secure a deal and assign a contract. All in all, I made $8,500 off of assigning. Which is awesome

BUT, my question that I can't seem to find an answer to here is, how sustainable is wholesaling as a business? I got into REI a year ago and now own three cash-flowing rental homes. In my research, it seems like there was a huge emergence of wholesalers in the last 5-8 years. On youtube, I can't find any wholesaling videos that are dated pre-2008. Is wholesaling only good after bursting of housing bubbles like in 2007?

The reason I ask is, if I decide to get into this full time, with good marketing, systems, and buyers in place, will a wholesaling business work through good and bad times? Or will all these wholesalers disappear once another bubble starts forming?