Text in CAD has an insertion point - one of nine choices: (top/mid/bottom) X (left/center/right).
Make sure your placeholder text is accurately placed with an appropriate insertion point. In this example the insertion point is "TC" (top center) accomplished by measuring down from the QUA (quadrant) of the circular hole. Why? We will use the placeholder's insertion point to locate the real text.
The picture shows a line from the insertion point of the placeholder text.
If you don't need precision, skip this step.