Should I renew 7% income?

[BTDretire]

 I have a property that was sold on a land contract.
The contract experies next year.
 The buyer has paid for 5 years, never a problem.
The contract now pays 11%.
I'm thinking about renewing it at 7% or more if I can get it.
 I'm 60 nearing retirement, would you accept 7% or just cash out and
invest the money in VTSAX. Cap gains will be minor.
Thinking about 10 year renewal. About $10,000 a year regular income vs.
long term cap gains or qualified Dividends if I sell and reinvest.
 What would you do?

[MDM]

Knee-jerk reaction: take the more-or-less guaranteed 7% and be happy.

Might depend on how much this is vs. your total portfolio, but 7% is still pretty good.  Of course, you do have to pay tax on that seller-financed interest, so...?

[BTDretire]

Knee-jerk reaction: take the more-or-less guaranteed 7% and be happy.

Might depend on how much this is vs. your total portfolio, but 7% is still pretty good.  Of course, you do have to pay tax on that seller-financed interest, so...?

 About 10% of my total.

[MDM]

About 10% of my total.

Then considering it a very well performing bond fund seems reasonable.

[salmp01]

I'd probably do a 5 year balloon and renew in another 5 years (at the same rate) if interest rates are still low.  If after 4 years interest rates skyrocket it'd be nice to have the ability to raise interest rates a bit. 

[BTDretire]

About 10% of my total.

Then considering it a very well performing bond fund seems reasonable.

 On days like the last two, "a very well performing bond fund seems" nice!