Install required packages
sudo yum install rpm-build redhat-rpm-config yum-utils
Setup build environment
mkdir -p ~/rpmbuild/{BUILD,RPMS,SOURCES,SPECS,SRPMS}
echo '%_topdir %(echo $HOME)/rpmbuild' > ~/.rpmmacros
Download src rpm and save it to ~/rpmbuild/SRPMS/
Install build dependencies for package
sudo yum-builddep <package>
Build package
rpmbuild --rebuild <package>.src.rpm