Step 1: Requirements
B. 4 1/2"x1/8"x1/16" N42 magnet bars (purchased mine form K&J Magnetics)
C. Gorilla Super Glue
D. Some type of desk to hang the belt from
Step 2: Magnet Placement
I don't believe magnet orientation has to be too strict since the magnets aren't attaching to each other, but just in case, orient the two so that they attract in the final fold position.
Step 3: Magnet Hanger
Again, the orientation shouldn't matter as far as attaching the belt. Just make sure they are glued lengthwise.
That's about it.