About Us
Our Story: Why Livingstone Management?
Why Did We Start This Business?
Livingstone Management was founded not just as a business venture, but as a commitment to the powerful intersection of real estate investing and positive social change. For over two decades, our founder, P.J. McCarthy, has personally navigated the complexities of both corporate finance leadership at institutions like Fannie Mae and hands-on, profitable real estate ownership. We saw an opportunity to bring this unique, disciplined, and mission-driven expertise to the Middle Tennessee market.
We believe that successful real estate investment fuels thriving communities. We started Livingstone Management to serve the dedicated small-to-medium investor—from the first-time landlord to the seasoned portfolio owner—who often lacks access to the institutional-grade strategy and resources we provide. Our goal is to stabilize and grow your assets while ensuring we positively impact the people who call them home, creating a sustainable ecosystem for everyone involved.
Our Core Belief and Mission
What is Our Mission or Core Belief?
Our core belief is simple: Informed investment and empowered tenancy create maximum long-term value.
We believe that property management should be a strategic partnership, not just a transaction. Our mission is to transform real estate ownership by applying institutional discipline and a focus on educational empowerment to every facet of the business.
For
Investors
(Owners)
Providing the strategic insight and financial acumen gained from managing multi-billion dollar portfolios and complex real estate transactions. We help you move past day-to-day operations to focus on strategic acquisition, stabilization, and exit planning—skills often reserved for the largest firms.
For
Tenants
(Residents)
Recognizing that a good tenant today can be a great homeowner tomorrow. We offer resources and support aimed at easing the path to eventual homeownership, fostering a sense of community, and encouraging respectful tenancy. This results in lower turnover and a better return for our investors.
Our Unique Advantage:
The Livingstone Difference
What Makes Our Company and Team Unique?
What truly sets Livingstone Management apart is our unparalleled blend of corporate rigor and entrepreneurial success, applied specifically to the needs of the 1–50 unit property investor and small community associations.
1. Institutional Expertise, Personalized Scale
Our founder’s background offers a level of insight rarely available in a company serving the small-to-medium investment space:
25-Year Corporate Financial Leadership: Experience as a Vice President at Fannie Mae, where he managed a $25 Billion book of business in
Affordable Lending and led the institutionalization of the Single-Family Rental asset class. This experience delivers rigorous financial
planning, regulatory compliance, and risk management to your portfolio.
20+ Years of Hands-On Ownership: Since 2003, we’ve personally managed and grown a diverse portfolio through entities like
TriRock LLC and Livingstone Capital LLC, executing 1031 exchanges, managing profitable renovations, and structuring complex
Opportunity Fund acquisitions—including the successful acquisition and stabilization of commercial property.
2. Education-First Model
We don't just manage your property; we grow your financial intelligence. We are dedicated to educating property investors and tenants alike.
This commitment closes the gap between sophisticated and small-to-medium investors, creating a more professional and profitable environment:
Investor Coaching: We provide sophisticated analysis and strategic advice that is valuable even to experienced small-to-medium
investors who have grown their portfolios rapidly.
Tenant Graduation Program: By offering support and resources to tenants, we cultivate a superior resident pool.
And when a good renter is ready to become a first-time homeowner, we're positioned to help them, organically generating
new home sales for our brokerage division.
By focusing on this win-win ecosystem, we not only manage your assets efficiently but also create a pipeline for portfolio
growth and sales opportunities—making Livingstone Management your true partner in Middle Tennessee real estate.
Meet Our Team
P.J. McCarthy, PresidentThe Vision Behind Livingstone Management
At Livingstone Management, our approach to property management and real estate investment is defined by the unique background of our President, P.J. McCarthy. P.J. founded Livingstone Management to bridge the gap between institutional-level strategic thinking and the practical, day-to-day needs of the small-to-medium real estate investor in Middle Tennessee
A Career Built on Scale and Strategy
P.J.’s foundation is built on more than 25 years of high-level financial leadership, culminating in a distinguished tenure at Fannie Mae. As a Vice President, P.J. was responsible for:
Managing a $25 Billion Book of Business: Overseeing Affordable Lending relationships with over 80 active seller-servicers and hundreds of
housing industry partners, demonstrating expertise in managing large-scale risk and complex regulatory environments.
Driving Institutional Change: P.J. led the transaction that institutionalized the Single-Family Rental asset class and created the trademarked First Look™
marketing program, which is now an industry standard prioritizing home sales to owner-occupants. This experience gives Livingstone Management an unmatched
view of market trends, risk mitigation, and consumer-focused product development.
Financial Discipline: Through leadership roles in default servicing and as a Senior Auditor at Ernst & Young LLP, P.J. cultivated a mature approach to financial controls, compliance, and strategic negotiation—skills that are directly applied to maximizing the efficiency and profitability of every client's portfolio.
The Investor-First
Perspective
Beyond the corporate boardroom, P.J. has been an active, hands-on real estate investor and small business owner for over 20 years.
This dual perspective is the engine of Livingstone Management’s strategy. Through entities like TriRock LLC and Livingstone Capital LLC,
P.J. has personally executed:
Strategic Acquisition & Financing: Successfully using 1031 exchanges and structuring a complex Opportunity Fund commercial acquisition in Tennessee.
Value Creation: Managing property stabilization, renovation, and leasing, leading to profitable sales and consistent delivery of strong returns (e.g., generating 100%+ profit on investment properties).
Entrepreneurial Growth: Acquiring and operating the Clevelander Bar & Grill, transforming it into a high-revenue, seven-day operation before a successful exit.
Our Commitment to Community Development
P.J.’s passion extends beyond profits to the community itself. He believes that disciplined real estate investment is a
powerful force for positive social change. Empowering Homeownership:
P.J. built Fannie Mae’s consumer homeownership education strategy, and that mission continues at Livingstone Management. We are committed to educating tenants and providing them with resources to become future homeowners, thereby cultivating a better tenant pool for our investors and strengthening the local community.
Strategic Impact: From serving on the Board of the Historic Gateway Neighborhood Development Corporation to focusing on affordable housing initiatives throughout his career, P.J.’s expertise ensures that Livingstone Management’s work is both financially rigorous and socially responsible.
At Livingstone Management, you partner directly with leadership that understands the market from Wall Street to Main Street—delivering the expertise a $20 million portfolio requires, with the personalized attention your 1–50 unit portfolio deserves.