Copy & save text off an image to use again

[Ezz9]

What I want to do is save the red text from this and to place on a better photo I found. Then I can do the rest of the work to make it look new.

A lot of times the text I want to pull off is all the same color so if I can do it by color picking that would work for me, after all, picking the color highlights the text and I won't have to do all the drawing a line around it. 

The way I've been doing it now is to crop it as close as I can then fix all the things that are still with it. But there has to ba a better way than that. I would hope.

I've tried looking on the web but as soon as you write the word text & photo. You find everything under the sun about text, but what I'm looking to do. lol