I can buy a domain from a competitor. Whats the best way to make good use of these links for my existing website

[Archers]

I can buy a domain from a competitor. Whats the best way to make good use of these links for my existing website

[TheEspresseo]

I assume since it is from a competitor it topically related to your site? Why not figure out which specific URLs on the domain have the most backlinks and 301 them over to URLs on your domain with highly similar content? If you lack the content, write fresh content and pass it through the LDA tool a couple times to make sure it's highly relevant for your closest related KW target. 301 all other links to your homepage or something.

If the site has a lot of standalone merit, why not just capitalize on it and treat it like an independent lead or revenue source? Maybe put some well-placed links to your existing site throughout?

[TheEspresseo]

This was recently mentioned on another Q&A post; you'll want to check it out. You may not get "credit" for the backlinks to your competitors domain, depending on the situation.