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I'm wanting to put a layout outside but only have an indoor transformer. I know that Playmobil and LGB have these outdoor transformers:

I've seen them sell for as low as $40 but are more frequently listed around $80 or $90, all of which is more than I'd like to spend. It seems that it's merely a sort of extension cord with an additional control dial which I've heard is only a potentiometer in a weather-safe box, which connects to the indoor transformer for power.
Since it seems basic, has anyone tried to make their own? I think the only questions I have are these: What kind of potentiometer should I get for making something like this? Maybe the volume control off of an old radio or TV? How does reverse work on these?

I've seen them sell for as low as $40 but are more frequently listed around $80 or $90, all of which is more than I'd like to spend. It seems that it's merely a sort of extension cord with an additional control dial which I've heard is only a potentiometer in a weather-safe box, which connects to the indoor transformer for power.
Since it seems basic, has anyone tried to make their own? I think the only questions I have are these: What kind of potentiometer should I get for making something like this? Maybe the volume control off of an old radio or TV? How does reverse work on these?