Nurse’s modest ambition exposes big housing market myth

For Gary, investing in property was something he was surprised he could do. But he says he gets really frustrated by one big issue of the Vic government’s recent property market decisions.

For intensive care unit liaison nurse practitioner Gary Blackburn, investing in property was something he always wanted to do, and was surprised to find he could.

When a patient becomes critically ill in a hospital, people like Mr Blackburn help to keep them alive.

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He’s pretty sure he’s not a greedy, heartless landlord, and he can’t see any of the more than 55,500 registered nurses around the country who are property investors fitting the description either.

“I’m yet to come across a greedy or extremely rich nurse,” Mr Blackburn said.

“I get really frustrated about the commentary, especially around negative gearing, as with the things that come out — while some of it is true, parts of it are just little snippets.

“They are saying that property investors are greedy fat cats — but so many of the people who own these properties are teachers or nurses.

“It’s the complete opposite when you look at the data.”

ICU liaison nurse practitioner Gary Blackburn bought his first investment property a few years ago and said he was proud he was able to give a Victorian family a home to live in. Picture: Tony Gough

The nurse practitioner said his Ballarat investment property was currently “heavily negatively geared” as a result of interest rates and land taxes having surged since he purchased the property a few years ago.

“If it wasn’t for negative gearing, I’d have to sell,” Mr Blackburn said.

“But I get great enjoyment out of having an investment property as it creates a buffer for me and my daughter financially, but I’m also giving a family in Ballarat a home.”

While many would be surprised by the huge numbers of nurses investing in property, Mr Blackburn said while he hadn’t thought it would be possible he had managed to do so by being financially sensible and getting the right advice.

“And we should be encouraging more teachers and nurses to invest and rent homes to families,” he said.

Finance4Nurses owner Tim Boyle’s business specifically works with nurses to help them buy a home or investment property.

Mr Boyle said for many nurses investing was a way to ensure they could avoid needing to work 12-hour night shifts later in life in order to make ends meet.

Finance4Nurses owner Tim Boyle said investing was a way many nurses ensured they could set themselves up for later in life in order to make ends meet.

“This strategy complements their careers and helps secure their financial futures while they care for patients,” he said.

However he noted nurses often faced reduced borrowing capacity from banks due to the complexity of their remuneration, particularly the impact that overtime and shift allowances can have on their earnings.

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Originally published as Nurse’s modest ambition exposes big housing market myth