301 redirect screw up site?

So to give my money site a boost in authority I bought a an aged domain off Godaddy to 301 redirect to my money site.

I spent $200+ on this domain since it had a ton of high quality backlinks that I wouldn't have been able to get otherwise. These are links from sites like SeattleTimes, FitSugar, and Washington Post. I'm pretty sure the domain wasn't penalized.

I did the 301 redirect on 7/19 (11 days ago) and a few days ago, my money site completely TANKED for all of its rankings.

Before the 301 redirect, I was ranking between pages 1-3 for all my search terms but now I am no where to be found in even the first 50 pages.

Are 301 redirects suppose to do this? Has anyone ever experienced this before, any advice?

Thanks

Google may just be trying to evaluate the new situation.. per say

Some things that you can do in the meantime is check to see if the old domain had any google penalties associated with it..

Go to google and do a search like this "site:yourwebsite.com" with the old domain, if it had pages previously indexed you should be able to see them. If not it may be deindexed from google.

Also you can check if the domain was blacklisted or listed by google to be an unsafe website (malware or something similiar)

go to http://www.google.com/safebrowsing/diagnostic?site=yourwebsite.com

This will tell you google's evaluation of the site, and let you know if there was any problems associated with it.

I would also setup a google webmaster tools for the site, a lot of times (not always) they will let you know in webmaster tools if the site has any penalties associated with it.

If all of those are good, I would just wait it out a bit, and see if your rankings return. Sometimes Google rankings will seem to drop off the face of the earth, and then come back even better then they were before..

Hope this helps.. Good luck

Hi I just did the same beside the domain I bought doesn't have any backlinks but its 7 years old.
Would it be a good idea to start doing seo for the site that redirects to my money site?

be care full before purchasing old domains , because people will not let good old domains expire for just $10.

there is a seller in bst selling old domains you can try his service.

or

make your own domains and build back links for them and then do 301

Yeah the site I bought to 301 is completely indexed and has no malware. Hoepfully it comes back stronger.

Good share makinsales
didnt know what link
Thanks dude

Did your main site ever recovered ?