Sometimes people amaze me. Why in the world will someone, and this is you in this case, make a statement about something they don't have the slightest knowledge about?
grdpande,: don't listen to this ignorant. It can be done and very successfully so.I have been through this Rcapper in reply #6 gave you the link to my thread. Go read it. In order to answer you more intelligently, give us the following: Your motor size in HP, number of motors you want to operate, the duty cycle, and whether the electrical entry to your house is single or 2 phase, meaning do you have neutral and 1 phase, or neutral and 2 phases.
You can choose between STATIC converter and a ROTARY converter. the static is somewhat less efficient but a lot less complicated as it has just few parts. While a rotary converter needs three phase electrical motor to be used as the 2nd, and 3rd. phase generator. also referred to as "IDLER MOTOR"
According with your needs and info, I can send you some schematics so that you can build your converter .