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@machineisbored
I'm building my first fixed gear at the moment. I've been pretty frugal - OK some parts weren't bargain basement but I've skimped where I can get away with it.
That said, I've spent about 400. Don't think you'd make a bike worth riding for 200. A cheap OTP is probably your best bet, then you can upgrade as and when. Should be able to pick up a 2008 Fuji Track for 250-300.