I just bought a domain name that has a DA 76 and a PA 71. The total of live backlinks is 46008 from 641 root domains. The Pagerank for the domain is 7. It is a 12 year-old domain name. Most of the backlinks are do-follow from .edu and .gov websites. My question is "How can I use the website effectively to generate some income?" After buying the domain name, I redirected it to one of my websites that has been struggling to get traffic. I did a 301 redirect. Will that help the website rank in search engines? What should I do with that domain name? I need your advice.