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What tool do you use for making holes for magnets ?

editoh. I can't read. Pin vise and drill bits.

Pin vice and drill bits.

Green Stuff sometimes to fill gaps in hollow bits.

4 fluted end mill,

twist drill in the right diameter.

Depends on the size of the magnet and the model I'm trying to magnetise (and the material it's made from).

1.5-2mm magnets in a plastic model - pin vice and drill bit. 2mm magnets in a METAL model, dremel.

2mm+ in anything - my 14.4v cordless drill - yah, it's an old one, with matching bit, with the model clamped in a vice. You can go slow so it doesn't remove too much.

My trusty Makita for large or metal pieces, and a pin vice for the small stuff.

http://www.homedepot.com/p/Makita-18-Volt-Compact-Lithium-Ion-Cordless-Combo-Kit-2-Piece-CT200RW/205302530?cm_mmc=Shopping%7cG%7cBase%7cPLA%7cD25T%7cPowerTools&gclid=Cj0KCQjw5arMBRDzARIsAAqmJeyPMywchqXUJVlA0SFtjh7YrdvMktlty1CaM3j14cBtz_nM8Iewb3gaAtJIEALw_wcB&gclsrc=aw.ds&dclid=CJilkpTLytUCFcFDNwodUUoAjA

for my dreadnaughts, i used 4mm diameter magnets & drilled the holes with one of these:

The flat bottom helps getting the depth right while the pointy tip helps with accuracy. I did it by hand - it took a while but i'm fine with the effort it takes.