Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 33

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 33
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 our stock price to decline significantly.

We have a limited operating history as a REIT and an independent publicly traded company and may not be able to operate our business successfully or generate sufficient cash flows to make or sustain distributions to our stockholders.

We have a limited operating
history as a REIT and an independent publicly traded company. As a result, an investment in our Series B Redeemable Preferred Stock
or Class A common stock may entail more risk than an investment in the preferred or common stock of a real estate company with a
substantial operating history. If we are unable to operate our business successfully, we would not be able to generate sufficient cash
flow to make or sustain distributions to our stockholders, and you could lose all or a portion of the value of your ownership in Series B
Redeemable Preferred Stock or Class A common stock. Our ability to successfully operate our business and implement our operating
policies and investment strategy depends on many factors, including:

| · | our ability                                                                                             
 to effectively manage renovation, maintenance, marketing, and other operating costs for our properties; |

| · | economic conditions                                                                                                                
 in our markets, including changes in employment and household earnings and expenses, as well as the condition of the financial and 
 real estate markets and the economy, in general;                                                                                   |

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| · | our ability                                              
 to maintain high occupancy rates and target rent levels; |

| · | the availability                                                                                               
 of, and our ability to identify, attractive acquisition opportunities consistent with our investment strategy; |

| · | our ability                                                               
 to compete with other investors entering the residential rental industry; |

| · | costs that                                                                                                                        
 are beyond our control, including title litigation, litigation with residents or tenant organizations, legal compliance, property 
 taxes, HOA fees, and insurance;                                                                                                   |

| · | judicial and                                                                                                                      
 regulatory developments affecting landlord-tenant relations that may affect or delay our ability to dispossess or evict occupants 
 or increase rental rates;                                                                                                         |

| · | reversal of                                                         
 population, employment, or homeownership trends in our markets; and |

| · | interest rate                                                                                                       
 levels and volatility, which may affect the accessibility of short-term and long-term financing on desirable terms. |

In addition, we face significant
competition in acquiring attractive properties on advantageous terms, and the value of the properties that we acquire may decline substantially
after we purchase them.

A significant portion of our costs and expenses are fixed