Reading my Kayak Angler magazine today and they had a write up on tenkara telescoping fly rods. $150 bucks for a pole I'd only use occasionally is a little steep so I decided to see what I could come up with on my own.  Went to Wally world and found a fiberglass telescoping cane pole for $7.96, rubber feet for a cane: 1.98, and  tennis racquet grip for 2.97. So for less than 15 bucks plus about a foot of paracord I've got a fishing rod I'm fairly confident in.

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Drilled hole in rubber butt cap for paracord wrist loop.

 
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Wrapped grip

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Cut some grooves in foot and had to sandpaper the inside diameter to fit over pole

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Completed, rattles a bit from the rods inside but should be alright. overall length extended is 10 feet.

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Small tackle kit with extra line, bobbers, hooks, and sinkers