Yeah you can't even get a Redcat for that price. You are going to have to look at used vehicles, and being brand new to nitro that's a very dangerous thing to do.
Let me warn you about something before you get into this hobby that nobody told me about. No matter how expensive or nice of a truck you get, used or new, this hobby is expensive. You WILL break things...probably fairly often.
You Can get into the hobby for the price you are talking about. I recently purchased a truck off of a member of this forum. It's an older Savage 25.
Got the truck for 100$, and a second parts truck for 50$. The truck needed 2 new diffs which I was able to salvage off of the parts truck. But if you don't know what you're doing, changing the diffs on a Savage can be kind of tricky. So I had 150$ in the truck plus gas to go get it. After I got it all running and tuned in, I realized the truck had no turning. Had to order a servo which was another 50$. When it arrives the truck will be ready to run, for a little over 200$. But to get a truck like this, you have to be willing to do work on the truck yourself, and have to accept the fact that the truck is older, and more will probably break down the road.
I've been dealing a lot with buying and fixing older cheap trucks lately, if you want some help here feel free to PM me.