When you are green you simply do not know and overlook many things due to inexperience and so therefore the property appears to be a deal at a certain price when it is not.

He takes advantage of my inexperience and tells me that he can have it done in three or four more days...

Im doing alright.Im a firm believer in experience over anything else.

Anyway, despite my inexperience I felt that my asking price was reasonable, so I stuck to my guns and we settled for 590k.Imagine my surprise when I found it relisted about two months later for 850k.

A lot of people will argue the increased risk of losing money from inexperience in this endeavor - while this may be true, I am not clear how paying at or above retail on a property mitigates the loss of revenue from inexperience, as you absolutely can not put a price on experience.    

Inexperience is fine, encouraged, and even expected.

Whether you lose money being inexperience or lose money lending to an investor that may be inexperience, you still lose money.

Yes you could make a costly mistake, but frankly the most likely issue is that your inexperience will cost you money as a buyer.

Since they have the gold and you don't, they have figured something out, that you haven't.And, they are probably saving you from some serious mistakes you don't have enough experience to see.The only issue I see that you may have is inexperience, oh and thinking you have everything figured out.

All real estate has value, buying right applies to any case.OK, i'll be nice...Your inexperience and naivety are showing.