Laptop for editing Gopro footage

My 5 year old cheapo laptop isn't cutting it anymore. I have TONS of gopro footage just waiting to be edited and made into videos. Can anyone recommend a laptop that isn't too expensive that will handle editing high-definition 1080p video? I'm hoping to keep it under $500, maybe $700, but my computer nerd buddies tell me I'll need to spend $3,000 to get the right laptop for the job. Keep in mind I'm only making YouTube videos, nothing too fancy.

Thanks!

Laptop for editing Gopro footage