Hard Money Loan and property taxes/home owner's insurance

[Jessica N.]

Hi everyone! Newbie here, looking to invest in my first flip. If I take out a hard money loan, let's say for 6 months, how are property taxes and homeowners insurance managed? Ideally, you'd like to pay only for the months that you hold ownership of the home, but I've never heard of paying either on a month to month basis - only for an entire year. How does it work?