Got my answer on another forum, for anyone that is interested...
(setq pt (getpoint "\nText insertion point: "))
(if pt
(progn
(setq tx_ent (entmakex (list
(cons 0 "TEXT")
(cons 10 pt)
(cons 11 pt)
(cons 1 "")
(cons 40 3.5)
(cons 72 1) ;Horizontal Alignment 0-Left, 1-Center, 2-Right, 3-Aligned, 4-Middle, 5-Fit
(cons 73 3) ;Vertical Alignment 0-Baseline, 1-Bottom, 2-Middle, 3-Top
)
)
)
(vle-edittextinplace tx_ent)
)
)