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@chrizzzfosho
dude -
my first build cost me 175
and it was actually sick.
got me from A to B (and quickly) for about a year - then i slowly built it up into an awesome ride.
just do a simple easy conversion, buy a simple old racer (raleigh or whatevs) on gumtree for 80 quid, get some decent wheels (mavic open pros are always way cheap on ebay - tough and legit), a new front brake (or set if you're running single speed), and maybe invest in a good crankset. DONE.
go see the boys at tokyo fixed and tell them how much money you have to spend and they'll take care of you with quality second-hand parts. BOOM.