"To be a magnet for drama" means to attract or often find oneself in difficult, awkward or embarrassing situations involving other people. For example, a friend who is a magnet for drama will always be talking about arguments they've had with their friends and family, they may always seem to have big problems in their life, trouble at work etc. They always seem to be going through some kind of personal crisis!

It can mean a few things, but generally I would break it down like: "I talk about people's affairs without their consent, so I cause drama with them." or if you are saying you are a magnet for drama "People around me overreact about small things, usually to do about me." Hopefully that helped. It was hard to put it into broad terms!