I agree with Renato_Rizoli, I've striped my Vestax PMC 06 using chemical paint remover (Klean-strip Aircraft Remover)
You don't need to go off the top with it, just use a little bit at a time and work it in then use some fine sand paper to give it a nice finish. Use a scouring pad (don't know if it's called that in the US, but it looks like this)
This will give the metal a nice key so the paint has somethink to hold on to otherwise it will just end up flaking off.
Golfdogz is spot on with coating it will some anti-rust protector or you're going to regret it later on.
Also before applying the primer use some pre-paint cleaner, it's use by mechanics to remove grime, grit & **** before spray painting, this will give you a better paint finish.
Hope this helps you.