Property investment coach labelled 'dishonest' after advising buyers to target the vulnerable

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1 NEWS

A well-known Auckland property investment coach is in trouble after advising investors to take advantage of vulnerable people.

Auckland Property Investors Association are reviewing relationship with Ron Hoy Fong after he sent a controversial DVD to members.
Source: 1 NEWS

Ron Hoy Fong, who is also a Justice of the Peace and has been awarded a Queen's Service Medal, says buying from divorcees, dummies, and deceased-estates are a good way to get a bargain.

Footage obtained by 1NEWS from one of Mr Fong's coaching DVD's for his company Ronovationz, features him giving shocking advice about the seven D's of real estate investment.

He lists these as, deceased estate, de-bank (mortgagee sales), deadline, divorces, dummies, developers and desperate.

The DVD was sent out his clients and members of the Auckland Property Investors Association.

Andrew Bruce from the Auckland Property Investors Association told 1NEWS it was unaware of the contents of the DVD, and it is reviewing the sponsorship it receives from Ronovationz.

He went on to say "No one wants to be made a fool of, so clearly we don't condone that sort of behaviour at all."

Mr Bruce admits he should have checked the content of the DVD's before sending them out, but as his organisation is a voluntary one, time was an issue, and he clearly made a mistake.

He says his association is about encouraging long term property investment and does not endorse unfair exploitation.

1NEWS contacted Ron Hoy Fong for comment but he declined to answer.

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