Possible Partnership

[Derek Smith]

I have a friend who pitched to me an offer for a business partnership. I personally do not know if there are any legal roadblocks to what he suggested or if it may simply be an ethics issue.

He is currently a licensed insurance dealer, I plan on obtaining my real estate license this year. He has proposed we somewhat combine these two ventures, in the sense, that we can cross sell all our products/services to potential home buyers (insurance side) and visa versa for those buying insurance we'll pitch them our real estate services as well, naturally only if they want it or it makes sense.

Would there be any issues combining our two ventures together? Although at first we'll be operating separately he has requested I become a licensed insurance rep, more so for future needs of the business and when he decides to sell I'll be prepared to take over his share. Any thoughts?