Building up an urban assault machine from junk parts..need suggestions.

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Hey guys, here's my latest project to come in the door.. It's one of those fine Wally World Genesis V2100 $150 suspension mountain bikes. Cost: Almost Nothin. A cup of coffee at Starbucks cost more.
I'm looking for ideas to replace all the missing/ broken parts so as to not spend a lot of money but still end up with a useable machine. IT won't do any trail riding to speak of, but it will be going down the city streets that have lots of potholes and sewer grates.

First, it needs brakes badly. How the guy was riding it without brakes, I dunno. it has cantilever rears, and a disc mount on front. Rotor, caliper, and the whole rear brake are gone. No cables either, but it does have decent levers.

I see Modern Bike has a few to choose from if I have to buy new.. but at $50 a whack for the disc and $11.00 for the rear arms if I read it right, we are starting to add up to the budget limit.

It has a threadless headset..but someone lost the stem clamp for the handlebars...I see used stems on the bay for $5.00 plus shipping.

Bars are heavy steel, for now they are OK but I'd like to get a set that allows more upright seating.

Sprockets, chain and and deraillers are all functional but the thumb shifters and cables are suspect as the rear won't move. I need shifters that are as good as the stock ones, or maybe just swap out for old school thumb shifters.
This is what I am thinking if I need to get new:
http://www.ebay.com/itm/Resin-Index...706?pt=LH_DefaultDomain_0&hash=item4ae7a89f9a

Wheels and tires are very usable, stock ones in ok shape. Rear has considerable side to side play, hoping I can just adjust and clean the bearings, unless it is a sealed bearing deal.. Part of the learning curve for me is finding out just how to repair it. My repair skills are just fine for 70's bikes, I was fixing them in junior high!

Frame, swing arm and shocks are good enough. cosmetically they are pretty ugly with several rattle can jobs, none of which involved masking.

Plans are to disassemble, strip, and finish in plastidip - the frame is aluminum I think...looking to make it a bike that won't get hurt tossing it in the truck or leaving it out in the rain by mistake. Also don't want it to look too good, and then get stolen.

Wally World still sells this bike and it seems there are a lot of happy customers out there posting all sorts of mods and youtube videos.

I guess my best bet would be to find a bike someone ran over or trashed the rims on and swap over what it needed, but if I could find used stuff cheaply that would be just fine too. I'm doing it more as a project to learn about all the modern bike stuff so I can fix the new stuff that I happen upon..I realize it is a cheap China built bike... but it seems to have decent enough bones for a refurb. I see lots of possible parts I could use every time I hit the scrapyard but they won't let anything out the gate once it enters.

Ideas for parts to use?
 
Keep haunting the alleys, bike shop dumpsters and thrift shops. Even kids bikes are using threadless headsets and usually come with brakes. For cheap, as opposed to free parts check out these guys:
http://www.troybikerescue.org/
I'm a huge fan of bike co-ops. Drag home every bike you can find, even 16 and 20 inchers, strip them for parts and learn by doing.
 
Keep haunting the alleys, bike shop dumpsters and thrift shops. Even kids bikes are using threadless headsets and usually come with brakes. For cheap, as opposed to free parts check out these guys:
http://www.troybikerescue.org/
I'm a huge fan of bike co-ops. Drag home every bike you can find, even 16 and 20 inchers, strip them for parts and learn by doing.

Yup, we have one here in Schenectady, but they are only around when I am at work. rrrgh.

I might be traveling to Troy...
 
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