Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 47

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 47
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 or investment,
which could have a material adverse impact on our financial condition and results of operations. In addition, to the extent the uses
of proceeds from an offering are designated for the acquisition of or investment in these properties, we will have no specific designated
use for the net proceeds from the offering allocated to the purchase or development and investors will be unable to evaluate in advance
the manner in which we will invest, or the economic merits of the properties we may ultimately acquire or develop with such proceeds.

Our expenses may remain constant or increase, even if our revenues decrease, causing our results of operations to be adversely affected.

Costs associated with our
business, such as mortgage payments, real estate taxes, insurance premiums and maintenance costs, are relatively inflexible and generally
do not decrease, and may increase, when residential properties are not occupied, rental rates decrease, tenants fail to pay rent or other
circumstances cause a reduction in property revenues. As a result, if revenues drop, we may not be able to commensurately reduce our
expenses, which would adversely affect our financial condition and results of operations.

Competition in identifying and acquiring our properties could adversely affect our ability to implement our business and growth strategies, which could materially and adversely affect us.

In acquiring our properties,
we compete with a variety of institutional investors, including other REITs, specialty finance companies, public and private funds, savings
and loan associations, banks, mortgage bankers, insurance companies, institutional investors, investment banking firms, financial institutions,
governmental bodies, and other entities. We also compete with individual private home buyers and small scale investors.

Certain of our competitors
may be larger in certain of our markets and may have greater financial or other resources than we do. Some competitors may have a lower
cost of funds and access to funding sources that may not be available to us. In addition, any potential competitor may have higher risk
tolerances or different risk assessments and may not be subject to the operating constraints associated with maintaining qualification
for taxation as a REIT, which could allow them to consider a wider variety of investments. Competition may result in fewer investments,
higher prices, a broadly dispersed portfolio of properties that does not lend itself to efficiencies of concentration, acceptance of
greater risk, lower yields and a narrower spread of yields over our financing costs. In addition, competition for desirable investments
could delay the investment of our capital, which could adversely affect our results of operations and cash flows. As a result, there
can be no assurance