2 years ago an aspiring YouTuber borrowed $20,000 to buy Logan Paul's old car for a video. Now he has over a million subscribers.
Colorado-based YouTuber Matthew Beem has risen to fame on social media in recent months.
He told Insider he once borrowed $20,000 to fund a video idea of customizing Logan Paul's old car.
Beem said the video ended up costing around $50,000 to make, due to unforeseen damages to the car.
YouTuber Matthew Beem said he's still paying off a $20,000 loan he took out to fund a video idea that involved a car belonging to well-known influencer Logan Paul, in the hope that it would help him grow his channel.
In September 2020, 25-year-old Beem, who typically posts content about building large-scale objects and statues, posted a YouTube video titled, "I Spent Thousands on Logan Paul!" which now has 13,000 views. In it, he said he was going to customize a yellow Dodge Challenger car, which previously belonged to Paul.
Paul is a controversial influencer with 23 million subscribers. He rose to fame on the now-defunct platform Vine, going on to post regular vlogs on YouTube. He received widespread backlash when he filmed a purported dead body in Japan in late 2017, but later apologized and continues to post content for his large following.
Beem told Insider he was inspired by Paul and other influencers who rose to fame during the "vlog-era" on the platform, so when Paul gave his car away to a fan in September 2020, Beem decided to contact the fan so he could get his hands on the car and "paint it amazingly" for a video.
The YouTuber told Insider he had been working as the head painter at a car business at the time, saying, "Once I was confident with the knowledge that I learned from painting cars, I was able to save some good money and I thought, 'I'm going to go all in and make a really big investment.'"
Beem said he planned to take out a loan so he could buy the car from the fan and use it in his video, but his friends and colleagues thought the idea was "crazy."
"I told them I was doing and they thought I was insane. That was probably the scariest moment because I worked full time for seven years I was only around 23 at the time," he said, adding, "I was getting like 50 views a video and hadn't really seen any success at that point. But I just really believed in it and wanted to take that jump."
According to Beem, the video ended up costing him close to $50,000, as someone crashed into the car, meaning he had to pay extra to get it fixed. The YouTuber said he borrowed $20,000 from a Colorado-based credit union to pay for some of the costs. (Insider has seen documentation relating to the loan.)
"It was way more expensive than I ever originally thought it would be because of that accident but luckily everybody was safe and it all ended up working out really good," he told Insider.
After Beem posted the video showing him buying the car on September 30, 2020, he said his channel "got some traction," and he found more success on the platform. While the video itself did not go viral, Beem said the concept inspired him to produce other videos about custom cars and projects which eventually received millions of views each.
A subsequent video posted in January 2022, where Beem said he tried to send the customized Dodge Challenger to Paul's home in Puerto Rico but failed to do so as it was too expensive, now has 3.3 million views on the platform.
Beem has skyrocketed 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 he also borrowed $14,000 from a family member to fund another video, which currently has 4.6 million views, where he customized a Smart car for popular YouTuber MrBeast. (Insider was not able to independently verify this loan with the YouTuber's financial records.)
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