Master's of real estate development set up alum Ryan Hilbun for entrepreneurial success

Finding out about the Master of Real Estate Development (MRED) degree program at W. P. Carey provided Ryan Hilbun (MRED '20) with the opportunity to gain a more comprehensive view of real estate and what it takes to build a successful business.

Seeking an opportunity to go into business for himself, Ryan Hilbun (MRED '20) left a career in aviation to join the real estate industry. Starting off in real estate sales gave him a good entry point into the industry, but he quickly wanted something more.

"What I was really interested in was building a real estate investment business, not just facilitating transactions," he says.

Finding out about the Master of Real Estate Development (MRED) degree program at ASU's W. P. Carey School of Business provided Ryan with the opportunity to gain a more comprehensive view of real estate and what it takes to build a successful business.

Currently, Ryan runs his own real estate development and investment firm, Ryan Scott Group, based in Scottsdale, Arizona. He spoke with W. P. Carey News about how the MRED program prepared him for being an entrepreneur within real estate and how the degree continues to provide immense value for his career.

Why W. P. Carey?

Before joining the MRED program, Ryan had a personal connection to ASU through his wife, who worked at the time for the ASU Foundation to fundraise for the real estate program. This gave him the opportunity to learn details about the program and the faculty members involved, which helped convince him this was the right fit.

"It was clear it aligned with where I wanted to go," says Ryan. "At the time, I didn’t fully understand what a real estate developer was and had very little exposure to that side of the industry. But I knew the program would give me a more complete understanding of real estate and help accelerate my path toward building something of my own that I could be proud of."

He experienced a change in perspective almost immediately, being exposed to various aspects of the real estate industry through real-life synthesis projects. "I realized I wasn’t limited to small deals," he says. "I was capable of thinking at a much larger scale."

Beyond the shift in mindset, the most valuable aspect of the MRED program for Ryan was, and continues to be the network it created. Through the nine-month program, he got to know his classmates, faculty members, alumni, and industry professionals whom the program introduced him to, forming relationships that he has continued to pursue far beyond graduation.

Because so many faculty members in the MRED program are active professionals within real estate, students receive practical guidance and professional opportunities. Ryan spoke about how rewarding it's been to work with faculty members, as well as classmates and alumni, in professional settings since the program.

"The MRED network is deeply connected within the broader development community, especially in Phoenix," says Ryan. "It is a high-quality, supportive group that is open, collaborative, and willing to share knowledge. That network continues to play a meaningful role in my career today."

Why real estate?

Real estate offered Ryan not only the opportunity to explore being an entrepreneur, but also to be a part of an industry that is multifaceted and often changing. His experience in the MRED program helped him discover how exciting real estate could be, and its emphasis on responsible development made a lasting impression.

"I went into the program expecting to get better at investing in duplexes and triplexes," says Ryan. "Instead, it completely reset my trajectory. Very early on, I knew I was done with traditional real estate sales and that I wanted to focus on development and larger-scale projects that have a meaningful, positive impact on communities."

Leading his own development firm has allowed Ryan to seek out the best opportunities, as opposed to relying on a single product type or market. The flexibility to pursue the projects he finds the most dynamic and interesting is what excites him the most.

Through every project, he draws on skills and mindsets he developed during the MRED program. Things like attention to detail and having strong discipline were reinforced through coursework, and have helped him become as successful as he is.

"It gave me a benchmark for what high-level execution looks like and reinforced that if you consistently provide a strong service or product, opportunities will follow," says Ryan. "It helped identify the skills that need to be continuously developed and mastered to become a successful developer."

What's next?

As Ryan continues to grow his real estate development firm, his focus remains on thoughtfully choosing projects that speak to him and provide value to the communities they are a part of. This harkens back to many of the ideas and principles that are taught within the MRED program.

"I make it my business to understand what’s happening in the market, the industry, and the community so I can recognize opportunities that make sense wherever we are in the cycle," he says. "Large developers often have to stay narrowly focused because of scale. I’m intentionally not trying to build that kind of operation."

Ryan has also stayed closely connected with his alma mater since graduation. He currently serves as the president of the MRED Alumni Chapter, which hosts alumni events and raises scholarship funds for future students.

For Ryan, it's important to give back to the school and the program that made a lasting impact on him and his career. "Staying involved is a way to give back to a program and community that helped shape me," he says.

He adds, "I also believe strong alumni networks create long-term value for both current students and the industry as a whole. Real estate is a relationship-driven business, and maintaining connections between alumni, students, and industry professionals helps strengthen the development community over time."