Road Cycling - NOOB in need of a cheap road bike

I usually ride a mountain bike to get around town because 1) I have owned this particular bike for almost a decade and 2) I don't know how to go about purchasing a decent road bike. I live near a bike Co-op that has a very nice underground bike scene surrounding it, but they don't deal with brand names so much as what fits on what frame.

I'm interested in a road bike that is sturdy and relatively cheap. I would mostly use it for fitness but am not saying that it might replace my standard "around town" bike. The roads I ride tend to be relatively smooth, but there are some streets I frequent that are older and have developed cracks. Basically, I am describing a bike that can take a beating.

What should I look for in terms of brand names, frame construction, components, etc? A pawn shop or goodwill looks like the best place to pick up something cheap and then fix it up myself over at the Co-op. I just want to start off with something solid (but not even near the best) and then upgrade/fix it as I go along. BTW, I'm a college kid so money is tight which any former college student should be able to identify with.

Are you looking to spend a $100 or a $1000? Somewhere in-between? Useful information will come if we know where to target.

55/Rad

I would look for a used bike, being your first. There are plenty of good used bikes out there, even if they are a bit old. Just make sure it's got quality components and indexed shifting. I picked up a 1993 cro-mo road bike with full shimano exage EX300 components and a computer for $90. The bike looked like it just came off the showroom floor. Sure it's only a 7 speed in back instead of the newer 9 speed, but so what. The bike store where I took it to have everything checked over said it's a great deal. A new bike of that quality would cost almost $1,000. Sure, it needed a new rear wheel, tires and tubes and I got a new computer for it, and loaded it up with a tire pump, seat bag, spare tubes and tools and with all that I was just over $300. Ok, sure it's weight is 26.5lbs, but that's not that bad, I'm not going to race it.
The bike is awsome. It will make a great recovery day and winter ride.

Check out used. There are some great deals out there.

Mark, what a great deal! Other than the obvious EBay and bicycleclassifieds.com are there any other used bike web sites that are reliable? I have been looking for the past month at new and used and can't seem to find the right bike for my price range (of course I want more for less) which sounds like you got it.
BTW just missed a Trek 2000 56 cm this week for $500 used in the local classifieds. Timing I think is important. Also most of my LBS' don't sell used. Thinking of trying Pawn Shops to see if I can find a gem in hiding.

Thanks

I am only looking at spending a hundred or so intially and then fix anything that I need to. Tires only cost me $2 at the Co-op and inner tubes can be had for free. All the labor to replace or fix anything will be provided by me; I can work on the bike as soon as I get it, but I don't know where to start.

What I want to know is what to look for in terms of frame construction, type of brakes, specific brand names, and anything else that would be of help. I plan to go on an outing to all the local pawn shops and goodwill stores within a five mile radius (which is substancial where I live) to look for something that can be worked on.

I know a rusted chain means the bike was not taken care of as it should. I can tell if the derailer would need to be replaced. What I don't know is what sets a gem from a polished turd (disregard my lack of eloquence). I can't look at a bike and tell whether it is a diamond in the rough or a mass produced piece of scrap. So the underlying question is what makes a good bike a good bike if you aren't going for the latest and lightest?

What size frame are you looking for?

What size frame are you looking for?

I am in the market for a 51cm frame if possible.