Homebrew PCBs

I am attempting my first BGA component. It is a simple 8 ball 555
timer using 0201 and 0402 components. Toner transfer will be used and
I think will be doable with the equipment I have. I have a microscope
and handling the 0402 and 0201 components is not a problem. I am
having a problem trying to figure out the best way to align the 555.
This is a homebuilt board, so I do not have an alignment mask. 

The best idea I have thought of so far is to print out pick and place
alignment marks,put the component over this and mark the top of the
component with a needle dipped in some white paint. Then when I place
the component, I would align dots with the appropriatley aligned
trace. I have not tried this yet, but it is one idea. 

I just wanted to find out if anyone else has any ideas for trying to
align a bga component.

I am not sure if what I am trying to do will work, but if it does the
board should be about 5mm by 5mm.