If you were to go and DIY I would not suggest using the shiny flashing that you get from your local hardware store. I saw that many people are doing this though. It won't take long before it starts to corrode.
I just used white sheet PVC. It works great. If you were to compare this method with the expensive prefabricated reflectors with a digital meter or something, you would probably see a difference, but I don't think your fish or corals will notice.