1 - 1" x 2" x 4' of pine wood
2" finishing nail
Plastic reels (Wal Mart sells them for $2.99 each)
Metal eye (screwing type)
Paint
Tools you'll need:
Press drill with 3/32" & 1/2" bit
jigsaw with fast cutting blade
Sand paper (corse and fine)
First, proceed in cutting 1"x 2" into 23" length. This will give you your base and top.
Second, using the jigsaw, score the top of the 1" x 2" across about 1/2" deep in the middle. Using a piece of corse sand paper, folded in 2, enlarge the mark by passing the paper into it. You will have to fold it again so that the nail can be inserted freely. Test as you go.
Third, proceed in creating the notch at the top of the base. Measure 2" down and drill a hole in the middle using the 1/2" bit. See picture:

Now you'll be able to use the jigsaw and cutout the rest of it. See results on next picture:

Fourth, the top is straight forward, cut the 1"x2" in half, length wise or if your like me, design and cutout your own pattern. See my pattern on next pic:

Fifth, measure and mark the middle of the top piece, drill a hole using the 3/32" bit and insert the nail. Verify that the top is balanced by sitting it on top of the base. You will have to drill more holes going towards the back because the spool and line is not installed yet.
Sixth, paint the base white and the top a dark color (will be easier to see when the fish strikes). Once dry, install the spool and the metal eyes. See pictures:


Here is the finish product:



Fish Finder
