Need to decide whether to mod, and how

[drivemusicnow]

I'd like to say hello, this is my first post. (yes i've done the required reading got a lot of good information and i'd like to thank the admins and all involved.)
Heres my situation: I have a 93 Eclipse GSX right now, totally stock, 155K miles on the stock turbo. it was taken care of well until my sister drove it for the last like 20K miles... she beat on it quite a bit, ie: ran it low on oil, 4500 between oil changes.. the timing belt did break (mechanics fault) therefore was rebuilt at about 75K but ever since then its burned oil
I have a Subaru SVX as my daily driver. so this would just be for fun

I want to make it into a track car. Hoping for maybe 300 whp but being a student i have a very limited budget. I'm pretty competent around cars, and going to an engineering school. Is it worth it? can i do it on about a $1500-2000 budget? So far i'm thinking it could be done.. do a full rebuild and replace the turbo (new 16 g?) obviously full exhaust, (2.5 -2.75?) cheap manual boost controller, cheap BOV.
Then 550 injectors, walbro 255, and an AFC later...

What do you think? and any parts you'd recomend more than others? keeping $$ in mind

 

[dave99gst]

you aint going to get 300 WHP esp AWHP for that price.

 

[drivemusicnow]

well... i figured i wouldn't, but i want to spend money on things now that i won't have to then upgrade later for 300whp... thats the end goal, in the next couple years, i really only want to put a max of 2k$ into it

 

[dave99gst]

welp goto my site and look at my mod list...
my car put down 294 FWHP ( really un-tunned on pump gas ) that translates to
like 323HP at the crank
www.turboeclipse.com

that should give you an idea.

 

[drivemusicnow]

Nice car Dave. Looks really clean both inside and out. Great Job.
I'm going for more of a just quick/handling car, without the nice interior or anything. Not "stripped down" but probably removing rear seats (not really weight reduction.. just nobody fits back there anyway. The A/C doesn't work, so I'd probably just remove all of that also. My basic underlying question... Is the car worth putting money into. right now I woudln't think it would be worth more than 1500$, if i put another 2 grand into it, can i make at LEAST that 3500 out of it, and have a great time doing some track days in the mean time? and the 2k doesn't include the prices of repairs, outside of the engine rebuild. shit breaks, I should be able to pay for it when it does.

Also, even having read the info on suspension.. what would be the cheapest way to make the car more neutral (understeers at present) and tighten it up. I was thinking of course tires, and then wondering whether springs by themselves help more, or would front and rear sway bars stiffen things up. again.. think of this car as a pocket change track car