Matthew Beem is a Colorado-based internet personality.
He told Insider that he borrowed money to make a video about modifying a car.
Beem said the video cost $50,000 due to unforeseen damages to the car.
Matthew Beem paid off a $20,000 loan he took out to fund a video idea that involved a car belonging to a well-known influencer in order to grow his channel.
In September 2020, 25-year-old Beem, who typically posts content about building large-scale objects and statues, posted a video titled, "I Spent Thousands on LOGAN PAUL!" which now has over 12,000 views. He said he was going to modify a yellow Dodge Challenger car that was once owned by Paul.
Paul has 23 million followers. He made a name for himself on the now-discontinued platform, going on to post regular videos on the internet. He received a lot of backlash when he filmed a dead body in Japan, but later apologized and continued to post content.
Beem wanted to get his hands on the car when Paul gave it to a fan, so he contacted the fan so he could get his hands on the car.
He told Insider that once he was confident with his knowledge of painting cars, he was able to save a lot of money.
Beem's friends and colleagues thought the idea of him taking out a loan to buy a car from a fan was crazy.
They thought I was crazy when I said I was doing it. He said that it was the scariest moment of his life because he had only been working full time for seven years. I wanted to take that jump.
Beem said that the video cost him $50,000, as someone crashed into the car, meaning he had to pay extra to fix it. Some of the costs were paid for by a Colorado-based credit union. The person has seen the documentation.
He told Insider that it was more expensive than he thought and that everyone was safe.
After Beem posted a video showing him buying a car, he said his channel got some traction, and he found more success on the platform. Beem said the concept inspired him to produce other videos about custom cars and projects which got millions of views each.
Beem said he tried to send a custom Dodge Challenger to Paul's home in Puerto Rico, but it was too expensive, and the video has 3.3 million views.
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He told Insider that he borrowed money from a family member to fund another video, where he created a smart car for MrBeast. Insider wasn't able to verify the loan with the financial records of the person.
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