Hello Zarka,
I turn Magnolia frequently as it grows in abundance here in the Houston area. For me, Magnolia is a mixed bag... If I can get it on the day its cut and process it into rough outs the same day, it will keep its white colour. However, if it is down more than a day or two, a nasty fungus starts (way too much heat and humidity here) and it rapidly turns a dirty dishwater grey/black/off white colour.
Magnolia turns and dries easily and features wide growth rings and medium sized pores. It makes wonderful utility bowls as it has high shock resistance, even in thin sections. I prefer to burn/scorch most of the Magnolia I turn to eliminate the dirty dishwater colours. This produces a uniform black, or deep caramel colour which is visually provocative and pleasing.
If you can get it fresh enough and process it rapidly, it will keep the light colour. There are little to no remarkable grain features and overall, Magnolia is rather bland. It takes dyes well and is a good candidate for adjunctive treatments like gilding, metal leafing, metallic impregnated lacquer finishes, metal patinas and similar treatments.
I would get some and give it a go, just don't expect wild grain, or stunning figure. All in all, its a nice timber, but it really needs some help to look its best. Take care and all the best to you and yours!