Locate the studs in the wall where you want to position the whiteboard with an electronic stud finder. Mark a spot on the studs just above and below where your frame will hang so you can locate them later.
Have a helper hold the frame where you would like it to hang. Use the level to ensure it hangs straight. Draw a pencil line on the wall across the top of the frame. Draw a pencil line on the wall inside the frame on all four sides. Set the frame aside.
Mark another outline 1 inch outside the already-drawn square. Paint the area inside this second line with one coat of magnetic paint. Allow to dry.
Paint white board paint over the magnetic paint. Allow it to dry for two days, and add another coat. Apply a third layer if necessary to achieve a smooth coverage. Allow to dry for two days before using.
Hang the frame over your magnetic whiteboard square by drilling wood screws into the previously marked studs.