I'm often tempted with what on the face of it look to be cheap/easy repair Alfa's as i've bought a good few cars back from the grave in my time and there is always a great sense of satisfaction when you hear them fire into life again. correct tools for the job are essential though.
even with correct tooling for TS cambelt etc you probably won't be able to fix a TS properly for much less than 156zoo says.
If the rest of the car was flawless and you knew it before failure then it could be a bargain, but if you're buying unknown then the trouble is that if the cambelt service was ignored then you need to ask if other areas have been neglected or on their way out (clutch/brakes/suspension etc.) without having driven it there's potentially a few other big bills laying in wait.