Is a Grand Am a Good Race car?

I have a 2000 Pontiac grand Am. i have had the car for 9 months. Has it kinks cause the original owner didn't neglect it but they weren't educated in everything they had to do to maintain the car. But all in all great car and I love it. What i wanna do is make it into a race car. Its the 2.4 liter 4 cylinder. My question is would this be a good little race car?

Things i was thinking was either work on the 4 cylinder engine and put perfomace parts in it or drop an engine that would fit. Any recommendations would be good to. Thank you
 
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