Buying domains that have many backlinks?

Hi everyone, I recently read about a strategy that is supposed to help with ranking my website. The strategy involves buying a domain (either expired or for sale) that has a lot of high DA backlinks. Then do a 301 redirect to my blog.

My blog will then have a lot of high quality links pointed to it. The blog is in a different niche than the expired domain.

Can you please explain if this really works?

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Thanks