I have mentioned before that it is important to find a good partner when going into a partnership. And earlier today I ran into a great article by Robert Kiyosaki, author of ‘Rich Dad, Poor Dad‘ on the topic that I found to be rather interesting.

Here is part of the article.

A Complementary Relationship

The second partner is Ken McElroy, a writer and personal friend. My wife, Kim, and I have made the most money with Ken. There are several reasons why:

– We share the same investment philosophy.

We buy, improve, hold, and refinance. We generally don’t like selling our properties.

– His expertise makes up for gaps in mine.

Ken owns the largest property management company in the Southwest, and his partner, Ross, is a real estate developer. Both men have nearly 20 years of experience in their respective fields.

Because of Ken’s years as a property manager, he has the experience and skill to evaluate the value of an existing property. And Ross has the know-how to bring the reconstruction of properties in on time and often under budget.

– We adhere to the same strategy.

Ken, Ross, Kim, and I like to put our money in, improve a property, bring in better tenants at increased rents, reappraise the property, and then borrow our money out and move the equity on to the next property. We then repeat the process.

And the rest of it is located at his column at yahoo finance.