Aged Racer Bike

Father’s trying to restore his aged racer bike. He built it during the earliest of 80’s which served as his daily transportation means. He got all the parts for only 50 pesos and that’s quiet terrible. Why is it terrible? Well, try to look for a racer on bicycle shops and tell me if you’ve seen such price for it. As of now, he’s lubricating the rusty parts so it’ll be easy to detach soon.