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Create a parameter named "text" of type string and give any value to it e.g. "3DCADForums"
and create a "sketch". In sketcher mode select the text command. Now instead of typing text select parameter from the text window and select your text parameter. Now your parameter value is applied to the text. Create a family table instance and select parameter "text"
In the new instance type any other value for that parameter.e.g. "3DCADTips" If you open the instance you will see the text has automatically changed.
You can use a cosmetic sketch to show text. However, your text will not be a feature, but more like a curve. It will be viewable in any view of the object. If all you want to do is show text in a drawing, you can do this (or sketch directly to the drawing), but if you want modelled text, you really want to create a cut or a protrusion. If you do this often, consider making a UDF using a parameter as described in the earlier reply.