A magnetic drill is a drill press-like machine that has a magnetic base. The magnetic base allows the magnetic drill to be locked onto a vertical steel beam while holes are being bored through it. This allows the operator to bore or drill consistently-spaced holes with no wavering due to drill movement. While mounted on a steel beam, the magnetic drill operates without movement, where a typical hand-held drill might have the propensity to move around. The electro-magnetic base is controlled by flipping a switch to engage or disengage the magnets.