Get yourself a mains powered drill (with variable speed settings) and a bench clamp.
Go to your local model shop and buy some 1200 grade wet and dry sandpaper and lengths of stainless steel wire and balsa,cut the balsa up into the required length.
Buy yourself a bait drill from the tackle shop and drill (by hand) through the middle of the cut balsa body.Clamp up the bait drill in the drill chuck and turn on the drill set at the lowest setting,now start rubbing down the balsa body to your required shape.
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Please God...let me win the lottery 
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