This quote sums up my dealings with Alex:
"If you succeed in cheating someone, don't think that the person is a fool... realize that the person trusted you much more than you deserved"
This website was created to voice my personal experience with dealing with Alex Wexler. All information contained within, is a based on facts and gives an accurate representation of my experience.
I entered into a rent to own house purchase agreement with Wexworx LLC, a company owned by Alex Wexler, in 2012 following the GFC. The real estate market was probably at its lowest point. The house had been on the market for over 8 months and had failed to sell, mainly because it was a very old house, with no views or natural light, and had a tiny kitchen.
Personally I liked the house as it had an indoor swimming pool, was in a good location, and it seemed a good opportunity to do some substantial renovations to improve on its negative features.
The basics of the agreement was I would pay a deposit and all expenses for the property and I would have 3.5 years to either buy the house outright or sell the property.
Following a flood of the house in April 2014, the insurance company tore out most of the interior. So it was a good time to do renovations.
Alex and I entered into a side agreement where he would make the greater of $60,000 or 20% of the net capital gain from the planned construction and I would not have to make anymore deposits towards the purchase of the house.
Unfortunately, due to issues with the city, soils and a bad contractor the construction did not go as planned.
In January 2014, Alex and I met together to discuss the best way forward. The options were:
a) Forget the planned 2nd story addition and just do an interior remodel
b) Hire a new architect & engineering team and continue to try to add 2nd story in addition to the interior remodel.
Alex and I both decided that despite the significant increase in original forecast constructions costs, Option b had the bigger upside, because the house would still have no views without a 2nd story.
I hired a new architect and after 10 months of planning, back and forth with the city, structural and civil engineers. Alex Wexler and I decided it would be better to sell the property as is, and move on.
Alex was also having troubles with a construction of his own, so we often shared our mutual frustrations at contractors and city planning / permitting.
In December 2014, we had an offer from a potential purchaser and we were both excited to sell the house. Alex and I agreed that he would receive his $1,360,000 and I would receive the remaining funds from the sale price + the outstanding insurance money. Unfortunately the deal fell through. Alex later apologized for some of his actions that contributed to the deal not happening.
In Feb, 2015 I received a verbal offer, Alex and I were very excited. Alex ' Do you think we can entice them into a 30min escrow?"
Unfortunately due to financing nothing materialized.
In May, 2015 I proposed that we put the house to Auction which Alex and his attorney #1 agreed it was a good idea. To this point Alex and I had a good relationship, we talked, text or emailed 2-3 times a month and even had lunch together just a month or so earlier.
Turn for the worst:
Then toward the end of May 2015, out of no where, I receive a threatening phone call from attorney #2 representing Wexler, stating, I had forfeited my right to sell the property.
I immediately called Alex to find out what was going on. I thought there was some kind of mix up. No Answer.
(This was the first time in my 2.5 year relationship with Alex, that I had ever even heard of Alex having any issues with our agreement. Alex wasn't even man enough to tell me himself)
I then receive an email from Alex stating he has other things he needs to focus on and that his attorneys need to handle all aspects of the property. I was disappointed Alex did not even have the respect to call me.
This is where it has got ugly, the lowest point for me, was not that Alex tried to screw me out of alot of money, not the fact that he was refusing to honor our agreement, not the fact that Alex via his attorneys produced a fraudulent document, but the most disappointing thing for me was when attorney #2 as a negotiation tactic told me that Alex was deathly ill and "may not be with us much longer. "
I was shocked and saddened by the news. Regardless of the issues at the time, no body likes to hear someone they know and liked are un-healthly.
I went to personally visit Alex at his home, I bought him some chocolates, tea and a get well card. I was relieved but shocked to find Alex playing with his dogs in his office. He most certainly wasn't on his death bed.
Alex and I chatted about his health and discussed a formal all cash purchase offer that I had received. Alex's response was simply that he hadn't seen the offer and to send it to him. Which i sent to he and his attorneys that day.
Alex refused to sign the sale agreement, but once again, he was not man enough to tell me directly, he had to have his attorneys do his dirty work.
This is when I knew I was in for a very ugly legal battle.
To Be Continued:
Tips to dealing with Alex Wexler:
* Ensure your contracts are water tight. Alex has a history of filing law suits.
* Document everything and get all agreements in writing. Alex may change his mind and go back on his word if he thinks he can make more money.
* Be prepared for a legal battle regardless if your relationship is on good terms or not. Especially if their is money involved.
ALEX WEXLER - Wexworx LLC.
Diary of my legal battles with Alex Wexler
Family History of Law Suits
Here is an article about a law suit between Paul Wexler, Alex Wexler & Dean Martin. The article stats that Wexler failed to pay Dean Martin his entitlement, even though Wexler was using Martin's identity as the face of a restaurant called Dinos Lodge.