If you're short on space for your DIY projects, this magnetic tool rack gives you a place to store small hand tools and other light metal objects where they won't get lost. All you need is some metal and magnets.
This is another project by DIYHacksandHowTos, and it's perfect for small-space workshops or workbenches. He used some thin steel sheet metal, a few screws and a bar magnet to get the job done. The longer you want your rack to be, the more of each material you'll need, but you can mount everything side-by-side under a cabinet or shelf to get one long, continuous storage rack.
Essentially, you'll bend each section of sheet metal into a small bracket into which the magnet will be placed. Then simply screw the bracket into the bottom of the cabinet. You'll want a good, strong magnet, since the strength of the magnet will determine the weight of the tools you can attach to the storage rack. The video above shows you how it works and how to build one, but you can get a full step-by-step at the Instructables link below.