Colorado-based YouTuber Matthew Beem has become very popular on social media in recent months.
He told Insider that he once borrowed $20,000 to fund a video idea to customize an old Logan Paul.
Bem said the video ended up costing about $50,000, due to unexpected damage to the car.
YouTuber Matthew Beam said he is still paying off a $20,000 loan he took to fund a video idea involving a car owned by well-known influencer Logan Paul, hoping it will help him grow his channel.
In September 2020, 25-year-old Bem, who usually posts content about building oversized objects and statues, posted a YouTube video titled “I Spent Thousands on Logan Paul!” which now has 13,000 views. In it, he said that he would allocate a yellow Dodge Challenger, which was previously owned by Paul.
Paul is a controversial influencer with 23 million subscribers. He rose to fame on the defunct platform Vine, and went on to post regular vlogs on YouTube. He received widespread backlash when he photographed an alleged corpse in Japan in late 2017, but later apologized and continued to post content to his many followers.
Bem told Insider that he was inspired by Paul and other influencers who rose to fame during the platform’s “vlog era,” so when Paul presented his car to a fan in September 2020, Bem decided to call the fan so he could get his hands on the car and “draw it.” Amazingly” for a video.
The YouTuber told Insider that he was working as a lead painter for a car company at the time, saying, “Once I became confident in the knowledge I learned from car paint, I was able to save some good money and thought, ‘I’m going to do everything and make a really big investment. “
Bem said he planned to take out a loan so he could buy the car off the fan and use it in his video, but his friends and colleagues thought the idea was “crazy.”
He said, “I told them I was doing this, and they thought I was crazy. This was probably the scariest moment because I worked full time for seven years and I was only about 23 at the time,” he said, adding, “I was getting nearly 50 views of a clip. Video and I didn’t really see any success at that point. But I really believed in it and wanted to make the leap.”
According to Beem, it ended up costing nearly $50,000, as someone crashed into the car, which meant they had to pay extra to get it fixed. The YouTuber said he borrowed $20,000 from a Colorado-based credit union to pay some costs. (See the documents related to the loan.)
“It was a lot more expensive than I originally thought it would be because of this accident but thankfully everyone was safe and it all ended up doing really well,” he told Insider.
After Bem posted the video of him buying the car on September 30, 2020, he said his channel “has gotten some traction”, and has become even more successful on the platform. While the video itself didn’t go viral, Bem said the concept inspired him to produce other videos about cars and custom projects that eventually received millions of views each.
A subsequent video was posted in January 2022 in which Bem said he tried to send a custom Dodge Challenger to Paul’s home in Puerto Rico, but failed to do so because it was too expensive, and has now garnered 3.3 million views on the platform.
Beem has risen to fame on YouTube in recent months, gaining more than 1.2 million subscribers from September 2021 to March 2022, according to analytics tracker Social Blade.
He told Insider that he also borrowed $14,000 from a family member to fund another video, which currently has 4.6 million views, in which he dedicated a smart car to popular YouTuber MrBeast. (Insider was unable to independently verify this loan with the YouTuber’s financial records.)
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