Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 64

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 64
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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 that we will be able to identify and finance investments that are consistent with our investment objectives or to achieve
positive investment results, and our failure to accomplish any of the foregoing could have a material adverse effect on us and cause the
value of our common stock to decline.

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Our investments will be dependent on tenants for revenue, and tenant failure to pay in a timely manner could reduce our revenues from rents, resulting in the decline in the value of your investment.

The
underlying value of our properties and the ability to make distributions to you depend upon the ability of the tenants of our properties
to generate enough income to pay their rents in a timely manner, and the success of