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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

Annual Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

For the Fiscal Year Ended December 31, 2001

Commission File Number0-13112

REAL ESTATE ASSOCIATES LIMITED VI

A California Limited Partnership

I.R.S. Employer Identification No. 95-3778627

9090 Wilshire Blvd., Suite 201, Beverly Hills, California 90211

Registrants Telephone Number, Including Area Code (310) 278-2191

Securities Registered Pursuant to Section 12(b) or 12(g) of the Act:

NONE

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed with the Commission by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding twelve months (or such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

Yes [X]     No [   ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrants knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [X]





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TABLE OF CONTENTS



|           |                                                                                               |                                                          |  |  |  |  |  | 
|---------- | --------------------------------------------------------------------------------------------- | -------------------------------------------------------- |  |  |  |  |  | 
|PART I.   
|           | ITEM 1. BUSINESS                                                                             
|           | ITEM 2. PROPERTIES                                                                           
|           | ITEM 3. LEGAL PROCEEDINGS                                                                    
|           | ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                                  
|PART II.  
|           | ITEM 5. MARKET FOR THE REGISTRANTS PARTNERSHIP INTERESTS AND RELATED SECURITY HOLDER MATTERS
|           | ITEM 6. SELECTED FINANCIAL DATA                                                              
|           | ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|           | ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                          
|           | ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                          
|           | ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 
|           |                                                                                               | CONSOLIDATED BALANCE SHEETS                             
|           |                                                                                               | CONSOLIDATED STATEMENTS OF OPERATIONS                   
|           |                                                                                               | CONSOLIDATED STATEMENTS OF PARTNERS EQUITY (DEFICIENCY)
|           |                                                                                               | CONSOLIDATED STATEMENTS OF CASH FLOWS                   
|           |                                                                                               | NOTES TO CONSOLIDATED FINANCIAL STATEMENTS              
|PART III. 
|           | ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT                                  
|           | ITEM 11. MANAGEMENT REMUNERATION AND TRANSACTIONS                                            
|           | ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT                      
|           | ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                                      
|           | ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K:                    
|SIGNATURES



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PART I.




ITEM 1. BUSINESS

Real Estate Associates Limited VI (REAL VI or the Partnership) is a limited
partnership which was formed under the laws of the State of California on
October 12, 1982. On April 22, 1983, REAL VI offered 4,200 units consisting of
8,400 limited partnership interests and warrants to purchase a maximum of 8,400
additional limited partnership interests through a public offering managed by
E.F. Hutton Inc.

The general partners of REAL VI are National Partnership Investments Corp.
(NAPICO), a California corporation, (the Corporate General Partner), and
National Partnership Investments Associates (NAPIA). NAPIA is a limited
partnership formed under the California Limited Partnership Act and consists of
Messrs. Nicholas G. Ciriello, an unrelated individual, as general partner, and
Mr. Charles H. Boxenbaum as limited partner. The business of REAL VI is
conducted primarily by NAPICO.

Prior to December 30, 1998, NAPICO was a wholly owned subsidiary of Casden
Investment Corporation (CIC), which is wholly owned by Alan I. Casden. On
December 30, 1998, Casden Properties Operating Partnership, L.P. (the
Operating Partnership), a majority owned subsidiary of Casden Properties
Inc., a real estate investment trust organized by Alan I. Casden, purchased a
95.25% economic interest in NAPICO. The current members of NAPICOs Board of
Directors are Charles H. Boxenbaum, Bruce E. Nelson and Alan I. Casden.

On December 3, 2001, Casden Properties Inc., entered into a merger agreement
and certain other transaction documents with Apartment Investment and
Management Company, a Maryland corporation (AIMCO) and certain of its
subsidiaries, pursuant to which AIMCO, on March 11, 2002, acquired Casden
Properties Inc. and its subsidiaries, including NAPICO.

REAL VI holds limited partnership interests in 20 local limited partnerships.
REAL VI also holds a general partner interest in Real Estate Associates III
(REA III) which, in turn, holds limited partner interests in 3 local limited
partnerships. The other general partner of REA III is NAPICO. Therefore, REAL
VI currently holds interests either directly or indirectly in 23 local limited
partnerships. Each of the local partnerships owns a low income housing project
which is subsidized and/or has a mortgage note payable to or insured by
agencies of the federal or local government. In December 1998, the Partnership
sold its interests in 10 local limited partnerships and its general partner
interest in one local general partnership to the Operating Partnership.

In order to stimulate private investment in low income housing, the federal
government and certain state and local agencies have provided significant
ownership incentives, including among others, interest subsidies, rent
supplements, and mortgage insurance, with the intent of reducing certain market
risks and providing investors with certain tax benefits, plus limited cash
distributions and the possibility of long-term capital gains. There remain,
however, significant risks. The long-term nature of investments in government
assisted housing limits the ability of REAL VI to vary its portfolio in
`response to changing economic, financial and investment conditions; such
investments are also subject to changes in local economic circumstances and
housing patterns, as well as rising operating costs, vacancies, rent collection
difficulties, energy shortages and other factors which have an impact on real
estate values. These projects also require greater management expertise and
may have higher operating expenses than conventional housing projects.

Under recently adopted law and policy, the United States Department of Housing
and Urban Development (HUD) has determined not to renew the Housing
Assistance Payment (HAP) Contracts on a long term basis on the existing
terms. In connection with renewals of the HAP Contracts under such new law and
policy, the amount of rental assistance payments under renewed HAP Contracts
will be based on market rentals instead of above market rentals, which may be
the case under existing HAP Contracts. The payments under the renewed HAP
Contracts may not be in an amount that would provide sufficient cash flow to
permit owners





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of properties subject to HAP Contracts to meet the debt service
requirements of existing loans insured by the Federal Housing Administration of
HUD (FHA) unless such mortgage loans are restructured. In order to address
the reduction in payments under HAP Contracts as a result of this new policy,
the Multi-family Assisted Housing Reform and Affordability Act of 1997
(MAHRAA) provides for the restructuring of mortgage loans insured by the FHA
with respect to properties subject to the Section 8 program. Under MAHRAA, an
FHA-insured mortgage loan can be restructured into a first mortgage loan which
will be amortized on a current basis and a low interest second mortgage loan
payable to FHA which will only be payable on maturity of the first mortgage
loan. This restructuring results in a reduction in annual debt service payable
by the owner of the FHA-insured mortgage loan and is expected to result in an
insurance payment from FHA to the holder of the FHA-insured loan due to the
reduction in the principal amount. MAHRAA also phases out project-based
subsidies on selected properties serving families not located in rental markets
with limited supply, converting such subsidies to a tenant-based subsidy.

When the HAP contracts are subject to renewal, there can be no assurance that
the local limited partnerships in which the Partnership has an investment will
be permitted to restructure its mortgage indebtedness under MAHRAA. In
addition, the economic impact on the Partnership of the combination of the
reduced payments under the HAP Contracts and the restructuring of the existing
FHA-insured mortgage loans under MAHRAA is uncertain.

The local partnerships in which REAL VI has invested were, at least initially,
organized by private developers who acquired the sites, or options thereon, and
applied for applicable mortgage insurance and subsidies. REAL VI became the
principal limited or general partner in these local partnerships pursuant to
arms-length negotiations with these developers, or others, who normally act as
general partners. As a limited partner, REAL VIs liability for obligations of
the local limited partnership is limited to its investment. The local general
partner of the local limited partnership retains responsibility for developing,
constructing, maintaining, operating and managing the project. Under certain
circumstances of default, REAL VI has the right to replace the general partner
of the local limited partnerships. As discussed above, REAL VI is a general
partner in certain of the local partnerships, but otherwise does not have
control of sale or refinancing, etc.

Although each of the partnerships in which REAL VI has invested will generally
own a project which must compete in the marketplace for tenants, interest
subsidies and rent supplements from governmental agencies make it possible to
offer these dwelling units to eligible low income tenants at a cost
significantly below the market rate for comparable conventionally financed
dwelling units in the area.





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During 2001, projects in which REAL VI had invested were substantially rented.
The following is a schedule of the status, as of December 31, 2001, of the
projects owned by local partnerships in which REAL VI, either directly or
indirectly through REA III, has invested.

SCHEDULE OF PROJECTS OWNED BY LOCAL LIMITED
AND GENERAL PARTNERSHIPS
IN WHICH REAL VI HAS AN INVESTMENT
DECEMBER 31, 2001

|                                     |  |        |     |                  |  |                  |      |             |  |  |     |               |  |  |     |  
|------------------------------------ |  | ------ | --- | ---------------- |  | ---------------- | ---- | ----------- |  |  | --- | ------------- |  |  | --- | -
|                                     |  |        |     |                  |  | Units Authorized |      |             |  |  |     |               |  | 
|                                     |  |        |     |                  |  | For Rental       |      |             |  |  |     | Percentage of
|                                     |  | No. of |     | Assistance Under |  | Units            |      | Total Units
|Name and Location                    |  | Units  |     | Section 8        |  | Occupied         |      | Occupied   
|                                     |  |        |     |                  |  |                  |      |            
|Local Partnerships                   |  |        |     |                  |  |                  |      |             |  |  |     |               |  |  |     |  
|                                     |  |        |     |                  |  |                  |      |             |  |  |     |               |  |  |     |  
|Boynton Terrace
Boynton Beach, FL    |  |        | 89  |                  |  |                  | 89   |             |  |  | 89  |               |  |  | 100 | %
|                                    
|Cady Brook Apts.
Charlton, MA        |  |        | 40  |                  |  |                  | None |             |  |  | 39  |               |  |  | 97  | %
|                                    
|Cassidy Village
Columbus, Ohio       |  |        | 98  |                  |  |                  | 50   |             |  |  | 96  |               |  |  | 98  | %
|                                    
|Century Plaza
Hampton, VA            |  |        | 120 |                  |  |                  | 120  |             |  |  | 118 |               |  |  | 98  | %
|                                    
|Crockett Manor
Trenton, TN           |  |        | 38  |                  |  |                  | 38   |             |  |  | 30  |               |  |  | 79  | %
|                                    
|Eastridge Apts.
Briston, VA          |  |        | 96  |                  |  |                  | 65   |             |  |  | 88  |               |  |  | 92  | %
|                                    
|Filmore I
Phoenix, AZ                |  |        | 32  |                  |  |                  | 32   |             |  |  | 27  |               |  |  | 84  | %
|                                    
|Grant-Ko Enterprises
Platteville, WI |  |        | 40  |                  |  |                  | None |             |  |  | 37  |               |  |  | 93  | %
|                                    
|Hummelstown Manor
Hummelstown, PA    |  |        | 51  |                  |  |                  | 50   |             |  |  | 51  |               |  |  | 100 | %
|                                    
|Kentucky Manor
Oak Grove, KY         |  |        | 48  |                  |  |                  | None |             |  |  | 48  |               |  |  | 100 | %
|                                    
|Lonsdale Housing
Providence, RI      |  |        | 131 |                  |  |                  | 131  |             |  |  | 128 |               |  |  | 98  | %
|                                    
|Marshall Plaza I
Lorain, Ohio        |  |        | 40  |                  |  |                  | 40   |             |  |  | 39  |               |  |  | 98  | %





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SCHEDULE OF PROJECTS OWNED BY LOCAL LIMITED
AND GENERAL PARTNERSHIPS
IN WHICH REAL VI HAS AN INVESTMENT
DECEMBER 31, 2001
Continued

|                                                 |  |        |       |                  |  |                  |      |             |  |  |       |               |  |  |     |  
|------------------------------------------------ |  | ------ | ----- | ---------------- |  | ---------------- | ---- | ----------- |  |  | ----- | ------------- |  |  | --- | -
|                                                 |  |        |       |                  |  | Units Authorized |      |             |  |  |       |               |  | 
|                                                 |  |        |       |                  |  | For Rental       |      |             |  |  |       | Percentage of
|                                                 |  | No. of |       | Assistance Under |  | Units            |      | Total Units
|Name and Location                                |  | Units  |       | Section 8        |  | Occupied         |      | Occupied   
|                                                 |  |        |       |                  |  |                  |      |            
|Marshall Plaza II
Lorain, Ohio                   |  |        | 50    |                  |  |                  | 48   |             |  |  | 48    |               |  |  | 96  | %
|                                                
|New-Bel-Mo
New Glarus, Bellemont,
Monticello, WI |  |        | 34    |                  |  |                  | None |             |  |  | 27    |               |  |  | 79  | %
|                                                
|Oakridge Apts. II
Biloxi, MS                     |  |        | 48    |                  |  |                  | None |             |  |  | 47    |               |  |  | 98  | %
|                                                
|Oakwood Manor
Milan, TN                          |  |        | 34    |                  |  |                  | 34   |             |  |  | 30    |               |  |  | 88  | %
|                                                
|Park Place
Ewing, NJ                             |  |        | 126   |                  |  |                  | 125  |             |  |  | 123   |               |  |  | 98  | %
|                                                
|Parkesedge Elderly Apts.
Parkesedge, PA          |  |        | 45    |                  |  |                  | 45   |             |  |  | 45    |               |  |  | 100 | %
|                                                
|Penneco II
Johnstown, PA                         |  |        | 76    |                  |  |                  | 76   |             |  |  | 54    |               |  |  | 71  | %
|                                                
|Sauk-Ko Enterprises
Baraboo, WI                  |  |        | 30    |                  |  |                  | None |             |  |  | 23    |               |  |  | 77  | %
|                                                
|Sol 413
Old San Juan, PR                         |  |        | 12    |                  |  |                  | 12   |             |  |  | 12    |               |  |  | 100 | %
|                                                
|Valley Oaks Senior
Gault, CA                     |  |        | 50    |                  |  |                  | None |             |  |  | 50    |               |  |  | 100 | %
|                                                
|Villas de Orocovix
Orocovix, PR                  |  |        | 41    |                  |  |                  | 41   |             |  |  | 39    |               |  |  | 95  | %
|                                                
|                                                 |  |        |       |                  |  |                  |      |             |  |  |       |               |  |  |     |  
|                                                
|TOTALS                                           |  |        | 1,369 |                  |  |                  | 996  |             |  |  | 1,304 |               |  |  | 95  | %
|                                                
|                                                 |  |        |       |                  |  |                  |      |             |  |  |       |               |  |  |     |  





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ITEM 2. PROPERTIES

The local limited partnerships in which REAL VI holds interests own various
multi-family rental properties. See Item 1 for information pertaining to these
properties.




ITEM 3. LEGAL PROCEEDINGS

Class Action

On August 27, 1998, two investors holding an aggregate of eight units of
limited partnership interests in Real Estate Associates Limited III (a
partnership in which NAPICO is a general partner) and two investors holding an
aggregate of five units of limited partnership interest in Real Estate
Associates Limited VI (another partnership in which Company is a general
partner) commenced an action in the United States District Court for the
Central District of California on behalf of themselves and all other similarly
situated, against the Partnership, NAPICO and certain other affiliated
entities. The complaint alleges that the defendants breached their fiduciary
duty to the limited partners of such Funds and made materially false and
misleading statements in the consent solicitation statements that were
disseminated to the limited partners of such Funds relating to approval of the
transfer of partnership interests in limited partnerships to the Operating
Partnership. The plaintiffs seek preliminary and permanent injunction relief
and other equitable relief, as well as compensatory and punitive damages.
However, plaintiffs made no effort to enjoin the transaction from taking place.
On August 4, 1999, a holder of one unit of limited partnership interest in
Housing Programs Limited (a partnership in which the Company is a general
partner) filed a lawsuit similar to the one discussed above against added
Housing Programs Limited. The second action has been subsumed in the first
action, which has been certified as a class action.

After defendants moved for summary disposition of the action, plaintiffs filed
a motion for leave to file an amended complaint. Although defendants opposed
the filing of the complaint proposed by plaintiffs, the court issued an order
on July 20, 2001 granting plaintiffs leave to amend but denying them leave to
file the complaint they proposed. Plaintiffs filed a Second, Restated, Amended
and Supplemental Complaint dated August 7, 2001 and on August 21, 2001 filed a
Corrected Second, Restated, Amended and Supplemental Complaint (CSRASC). The
CSRASC adds eight new defendants and six new counts which were not included in
prior complaints. The new counts include; (i) violations of the anti-bundling
rules of the Securities and Exchange Act of 1934, (ii) violation of the
doctrine of inherent fairness, (iii) a declaratory judgment that the certain
defendants are not entitled to indemnification under the partnership
agreements, (iv) rescission of the business combination discussed in Note 1,
(v) a constructive trust on any recovery from a separate lawsuit pending in the
United States District Court of the Middle District of Pennsylvania which was
brought on behalf of several limited partnerships which are not parties to this
action; and (vi) an accounting. Defendants made a motion to dismiss the
CSRASC, which was denied. The court found that the issues presented would be
more appropriate resolved in a motion for summary judgment or summary
adjudication. Defendants intend to make such a motion. The deadline to do so
is April 1, 2002.

Defendants denied allegations in the CSRASC in their answer. The parties are
in the process of conducting discovery. The discovery deadline is February 28,
2002 and the trial is scheduled for July 16, 2002. A motion is before the
court to extend these deadlines and the hearing on that issue is scheduled for
February 4, 2002. Once discovery is complete, defendants will move for summary
judgement dismissing the complaint.

Other

The holder of a purchase money promissory note issued by Century Plaza limited
partnership, one of the Partnerships investments, in the amount of $960,000
plus accrued interest payable of $1,579,451 as of December 31, 2001, filed a
suit seeking a monetary judgment against the Partnership and the other
partners. The Partnership and other defendants contend the not is non-recourse
and intend to vigorously defend the action. The Partnership has no investment
balance related to this Local Partnership.





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Plaintiff, who is a limited partner in the Partnership, claims that NAPICO and
other defendants (1) have refused to provide the plaintiff with access to the
books and records of the Partnership, and (2) have breached their fiduciary
duties and the partnership agreement by failing to provide such access and by
failing to act in the best interest of the Partnership. The defendants have,
however, provided their books and records to plaintiff pursuant to a protective
order. Plaintiff has failed to quantify its purported damages. Trial is
schedule for August 13, 2002.

The managing general partner of such NAPICO managed partnerships and the other
defendants believe that the plaintiffs claims are without merit and intend to
contest the actions vigorously.

As of December 31, 2001, the Partnerships General Partner was a plaintiff or
defendant in several other lawsuits. None of these lawsuits were related to
the Partnership.




ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

In August 1998, a consent solicitation statement was sent to the limited
partners setting forth the terms and conditions of the purchase of the limited
partners interests, held for investment by the Partnership, by a real estate
investment trust organized by an affiliate of NAPICO, together with certain
amendments to the Partnership Agreement and other disclosures of various
conflicts of interest in connection with the proposed transaction. Prior to
the sale of the partnership interests in 1998, the consents of the limited
partners to the sale and amendments to the Partnership Agreement were obtained.




PART II.




ITEM 5. MARKET FOR THE REGISTRANTS PARTNERSHIP INTERESTS AND RELATED SECURITY HOLDER MATTERS

The Limited Partnership Interests are not traded on a public exchange but were
sold through a public offering managed by E. F. Hutton Inc. It is not
anticipated that any public market will develop for the purchase and sale of
any partnership interests. Limited Partnership Interests may be transferred
only if certain requirements are satisfied. At December 31, 2001, there were
3,209 registered holders of units in REAL VI. The Partnership has invested in
certain government assisted projects under programs which in many instances
restrict the cash return available to project owners. The Partnership was not
designed to provide cash distributions to investors in circumstances other than
refinancing or disposition of its investments in limited partnerships. In
March 1999, the Partnership made distributions of $2,769,110 to the limited
partners and $27,971 to the general partners, which included using proceeds
from the sale of the partnership interests. No other distributions have not
been made from the inception of the Partnership.





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ITEM 6. SELECTED FINANCIAL DATA

|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|------------------------------------------------------------------------------------- |  | ----------------------- | ---------- | ---- |  | ---- | --------- | ---- |  | ---- | --------- | - |  | - | ---------- | - |  | - | ---------- | -
|                                                                                      |  | Year Ended December 31,
|                                                                                      |  |                        
|                                                                                      |  | 2001                    |            | 2000 |  | 1999 |           | 1998 |  | 1997
|                                                                                      |  |                         |            |      |  |      |           |      |  |     
|Income (Loss) from Rental
Operations                                                  |  | $                       |           |      |  | $    |          |      |  | $    |          |   |  | $ | 45,723     |   |  | $ | (20,071    | )
|Loss from Partnership
Operations                                                      |  |                         | (621,366   | )    |  |      | (372,990  | )    |  |      | (576,526  | ) |  |   | (1,436,418 | ) |  |   | (1,132,951 | )
|Gain on Sale of Limited
Partnership Interests
and Rental Property                     |  |                         |           |      |  |      |          |      |  |      |          |   |  |   | 7,497,969  |   |  |   |           |  
|Equity in (Loss) Income of
Limited Partnerships
and Amortization of
Acquisition Costs |  |                         | (686,770   | )    |  |      | (111,586  | )    |  |      | (11,036   | ) |  |   | (1,437,536 | ) |  |   | 625,025    |  
|Distribution from
Limited Partnerships
Recognized as Income                           |  |                         | 46,555     |      |  |      | 44,273    |      |  |      | 81,033    |   |  |   | 123,291    |   |  |   | 499,540    |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Net (Loss) Income                                                                     |  | $                       | (1,261,581 | )    |  | $    | (440,303  | )    |  | $    | (506,529  | ) |  | $ | 4,793,029  |   |  | $ | (28,457    | )
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Net (Loss) Income per
Limited Partnership
Interest                                    |  | $                       | (74        | )    |  | $    | (26       | )    |  | $    | (30       | ) |  | $ | 282        |   |  | $ | (2         | )
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Total Assets                                                                          |  | $                       | 2,657,623  |      |  | $    | 3,738,452 |      |  | $    | 4,062,164 |   |  | $ | 7,426,779  |   |  | $ | 15,726,187 |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Investments in
Limited
Partnerships                                                   |  | $                       | 510,157    |      |  | $    | 541,072   |      |  | $    | 509,999   |   |  | $ | 500,744    |   |  | $ | 5,885,699  |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Rental Property                                                                       |  | $                       |           |      |  | $    |          |      |  | $    |          |   |  | $ |           |   |  | $ | 3,016,049  |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Mortgage
Notes Payable                                                                |  | $                       |           |      |  | $    |          |      |  | $    |          |   |  | $ |           |   |  | $ | 4,828,404  |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  
|Notes Payable and
Amounts Due for
Partnership
Interests                               |  | $                       | 1,765,000  |      |  | $    | 1,765,000 |      |  | $    | 1,765,000 |   |  | $ | 1,765,000  |   |  | $ | 5,795,000  |  
|                                                                                      |  |                         |            |      |  |      |           |      |  |      |           |   |  |   |            |   |  |   |            |  





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ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Liquidity

The Partnerships primary sources of funds include interest income on money
market funds and certificates of deposit and distributions from local
partnership in which the Partnership has invested. It is not expected that any
of the local partnerships in which the Partnership has invested will generate
cash flow sufficient to provide for distributions to the Partnerships limited
partners in any material amount. The Partnership made a cash distribution to
investors in March 1999 using proceeds from the disposition of its investments
in certain limited partnerships.

The Partnership also owned and operated an apartment building which was sold in
1998 to the Operating Partnership. The units were leased primarily on a
month-to-month basis. These buildings primary source of funds was the rental
payments from tenants. Expenditures primarily included normal operating
expenses and debt service.

Capital Resources

REAL VI received $42,000,000 in subscriptions for units of limited partnership
interests (at $5,000 per unit) during the period April 22, l983, to March 31,
1984, pursuant to a registration statement on Form S-11.

Results of Operations

The Partnership was formed to provide various benefits to its partners as
discussed in Item 1.

At December 31, 2001, the Partnership has investments in 23 limited
partnerships, all of which own housing projects that were substantially all
rented. The Partnership, as a limited partner, is entitled to 90% to 99% of
the profits and losses of the local limited partnerships. The Partnership
accounts for its investments in the local limited partnerships on the equity
method, thereby adjusting its investment balance by its proportionate share of
the income or loss of the local limited partnerships. Equity in losses of
limited partnerships are recognized in the financial statements until the
limited partnership investment account is reduced to a zero balance. Losses
incurred after the limited partnership investment account is reduced to zero
are not recognized. Limited partners are not liable for losses beyond their
contributed capital.

Distributions received from limited partnerships are recognized as return of
capital until the investment balance has been reduced to zero or to a negative
amount equal to future capital contributions required. Subsequent
distributions received are recognized as income.

The total losses from the local limited partnerships that were allocated to the
Partnership were $363,000, $440,000 and $426,000 for the years ended December
31, 2001, 2000 and 1999, respectively. However, because losses incurred after
the investment account is reduced to a zero balance are not recognized, the
Partnership recognized equity in loss of limited partnerships of $686,770,
$111,586 and $11,036 for the years ended December 31, 2001, 2000 and 1999,
respectively. The increase in equity in loss in 2001 and 2000 is a result of
the Partnership being able to recognize greater losses as a result its
increased capital contributions to the local limited partnerships in 2001 and
2000. Capital contributions, which were required to fund operating deficits of
the local limited partnerships, increased from $62,704 in 1999 to $696,295 and
$157,338 in 2001 and 2000, respectively. The cumulative amount of the
unrecognized equity in losses of certain limited partnerships was approximately
$11,752,000 and $11,357,000 as of December 31, 2001 and 2000, respectively.





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Distributions from the local limited partnerships in which the Partnership did
not have a positive investment balance were $43,364, $44,273 and $81,033 for
the years ended December 31, 2001, 2000 and 1999, respectively. These amounts
were recognized as income on the accompanying statements of operations, in
accordance with the equity method of accounting.

As of December 31, 2001 and 2000, the Partnership has cash and cash equivalents
of $2,147,466 and $3,197,380, respectively. These amounts are on deposit
primarily with high credit quality financial institutions, earning interest.
This resulted in the Partnership earning $102,629, $185,690 and $138,560 in
interest income for the years ended December 31, 2001, 2000 and 1999,
respectively. The amount of interest income varies with market rates available
and with the amount of funds available for investment. Interest income
decreased in 2001 primarily as a result of the reduction in cash balances and
interest rates during 2001. Cash equivalents can be converted to cash to meet
obligations of the Partnership as they arise. The Partnership intends to
continue investing available funds in this manner.

A recurring partnership expense is the annual management fee. The fee is
payable to the Corporate General Partner of the Partnership and is calculated
at .4 percent of the Partnerships original remaining invested assets. The
management fee is paid to the Corporate General Partner for its continuing
management of partnership affairs. The fee is payable beginning with the month
following the Partnerships initial investment in a local limited partnership.
Management fees were $206,433 for the years ended December 31, 2001, 2000 and
1999.

Under recently adopted law and policy, the United States Department of Housing
and Urban Development (HUD) has determined not to renew the Housing
Assistance Payment (HAP) Contracts on a long term basis on the existing
terms. In connection with renewals of the HAP Contracts under such new law and
policy, the amount of rental assistance payments under renewed HAP Contracts
will be based on market rentals instead of above market rentals, which may be
the case under existing HAP Contracts. The payments under the renewed HAP
Contracts may not be in an amount that would provide sufficient cash flow to
permit owners of properties subject to HAP Contracts to meet the debt service
requirements of existing loans insured by the Federal Housing Administration of
HUD (FHA) unless such mortgage loans are restructured. In order to address
the reduction in payments under HAP Contracts as a result of this new policy,
the Multi-family Assisted Housing Reform and Affordability Act of 1997
(MAHRAA) provides for the restructuring of mortgage loans insured by the FHA
with respect to properties subject to the Section 8 program. Under MAHRAA, an
FHA-insured mortgage loan can be restructured into a first mortgage loan which
will be amortized on a current basis and a low interest second mortgage loan
payable to FHA which will only be payable on maturity of the first mortgage
loan. This restructuring results in a reduction in annual debt service payable
by the owner of the FHA-insured mortgage loan and is expected to result in an
insurance payment from FHA to the holder of the FHA-insured loan due to the
reduction in the principal amount. MAHRAA also phases out project-based
subsidies on selected properties serving families not located in rental markets
with limited supply, converting such subsidies to a tenant-based subsidy.

When the HAP Contracts are subject to renewal, there can be no assurance that
the local limited partnerships in which the Partnership has an investment will
be permitted to restructure its mortgage indebtedness under MAHRAA. In
addition, the economic impact on the Partnership of the combination of the
reduced payments under the HAP Contracts and the restructuring of the existing
FHA-insured mortgage loans under MAHRAA is uncertain.

As a result of the foregoing, the Partnership, in 1997, commenced an extensive
review of disposition, refinancing or re-engineering alternatives for the
properties in which the limited partnerships have invested and are subject to
HUD mortgage and rental subsidy programs. The Partnership has incurred
expenses in connection with this review by various third party professionals,
including accounting, legal, valuation, structural and engineering costs, which
amounted to $97,556 for the year ended December 31, 1999, and are included in
partnership general and administrative expenses.





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On December 30, 1998, the Partnership sold its limited partnership interests in
10 local limited partnerships, with a total carrying value of $3,878,886, and
its general partner interest in one local general partnership, with a partner
deficit of $1,507,828, to the Operating Partnership. The sale resulted in
proceeds to the Partnership of a $1,397,081 and a net gain of $7,497,969, after
being relieved of notes and interest payable of $8,712,920 and incurring
selling expenses of $240,994. In March 1999, the Partnership made cash
distributions of $2,769,110 to the limited partners and $27,971 to the general
partners, which included using proceeds from the sale of the partnership
interests.

The Operating Partnership purchased such limited partner interests for cash,
which it raised in connection with a private placement of its equity
securities. The purchase was subject to, among other things, (i) the purchase
of the general partner interests in the local limited partnerships by the
Operating Partnership; (iii) the approval of HUD and certain state housing
finance agencies; and (iii) the consent of the limited partners to the sale of
the local limited partnership interests held for investment by the Partnership.

In August 1998, a consent solicitation statement was sent to the limited
partners setting forth the terms and conditions of the purchase of the limited
partners interests held for investment by the Partnership, together with
certain amendments to the Partnership Agreement and other disclosures of
various conflicts of interest in connection with the proposed transaction.
Prior to the sale of the partnership interests, the consents of the limited
partners to the sale and amendments to the Partnership Agreement were obtained.

Operating expenses, other than management fees and interest expense, consist of
legal and accounting fees for services rendered for the Partnership and general
and administrative expenses. Legal and accounting fees were $180,882, $120,546
and $96,827 for the years ended December 31, 2001, 2000 and 1999, respectively.
General and administrative expenses were $199,880, $94,901 and $271,276 for
the years ended December 31, 2001, 2000 and 1999, respectively. Included in
general and administrative expenses are reimbursements to NAPICO for certain
expenses, which totaled $22,740, $20,424 and $41,364 for the years ended
December 31, 2001, 2000 and 1999, respectively. Also included in partnership
general and administrative expenses for 1999 is $97,556, related to the
aforementioned third-party review of the properties owned by the local
partnerships.

At December 31, 2001, the Partnership is obligated on non-recourse notes
payable of $1,440,000 which bear interest at 9.5 percent per annum and have
principal maturities ranging from December 1999 to December 2012. The
Partnership was relieved of notes payable in the amount of $4,030,000 in
connection with the sale of the partnership interests to the Operating
Partnership. The notes and related interest are payable from cash flow
generated from operations of the related rental properties as defined in the
notes. These obligations are collateralized by the Partnerships investments
in the limited partnerships. Unpaid interest is due at maturity of the notes.
Interest expense was $136,800 for 2001 and 2000 and $140,550 for 1999.

Total revenue for the local partnerships were $10,032,000, $9,895,000 and
$9,928,000 for the years ended December 31, 2001, 2000 and 1999, respectively.

Total expenses for the local partnerships were $10,396,000, $10,336,000 and
$10,354,000 for the years ended December 31, 2001, 2000 and 1999, respectively.

The total net loss for the local partnerships for 2001, 2000 and 1999
aggregated $364,000, $441,000 and $426,000, respectively. The losses allocable
to the Partnership were $363,000, $440,000 and $426,000 for 2001, 2000 and
1999, respectively.

The Partnership, as a limited or general partner in the local partnerships in
which it has invested, is subject to the risks incident to the construction,
management, and ownership of improved real estate. The Partnership investments
are also subject to adverse general economic conditions and accordingly, the
status of the national economy, including substantial unemployment, concurrent
inflation and changing legislation, could increase vacancy levels, rental
payment defaults, and operating expenses, which in turn, could substantially
increase the risk of operating losses for the projects.





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##### Table of Contents






ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Partnership is exposed to market risk primarily due to fluctuations in
interest rates. Specifically, the Partnership is subject to market risk
resulting from fluctuations in the general level of U.S. interest rates as the
Partnership debt of $1,440,000 is based on a weighted average fixed rate of
9.8% per annum. As a result, the Partnership will be obligated to pay
contractually agreed upon rates of interest on its fixed rate debt, unless
management refinances its existing fixed rate debt and potentially incur
substantial prepayment penalties.

The following table provides information about the Partnerships interest rate
sensitive financial instruments, including, amounts due at maturity, principal
amortization, weighted average interest rates and fair market values as of
December 31, 2001 and 2000:

|                                               |                                          |   |         |     |      |  |      |  |      |  |      |  |            |   |         |     |       |  |  |  |  |   |         |     |   |   |           |     |   |   |             |  | 
|---------------------------------------------- | ---------------------------------------- | - | ------- | --- | ---- |  | ---- |  | ---- |  | ---- |  | ---------- | - | ------- | --- | ----- |  |  |  |  | - | ------- | --- | - | - | --------- | --- | - | - | ----------- |  | 
|                                               |                                          |   |         |     |      |  |      |  |      |  |      |  |            |   |         |     |       |  |  |  |  |   |         |     |   |   |           |     |   |   | Fair Market
|                                               |                                          |   | 2002    |     | 2003 |  | 2004 |  | 2005 |  | 2006 |  | Thereafter |   | Total   |     | Value
|                                               |                                          |   |         |     |      |  |      |  |      |  |      |  |            |   |         |     |      
|Interest
          Rate Sensitive Liabilities: |                                          |   |         |     |      |  |      |  |      |  |      |  |            |   |         |     |       |  |  |  |  |   |         |     |   |   |           |     |   |   |             | 
|Fixed
          Rate Debt                      |                                          | $ | 520,000 |     |      |  |      |  |      |  |      |  |            | $ | 750,000 |     |       |  |  |  |  | $ | 170,000 |     |   | $ | 1,440,000 |     |   | $ | 1,440,000   | 
|                                               | Weighted
          Average Interest Rate |   |         | 9.5 | %    |  |      |  |      |  |      |  |            |   |         | 9.9 | %     |  |  |  |  |   |         | 9.9 | % |   |           | 9.8 | % |   |             |  | 




ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The Financial Statements and Supplementary Data are listed under Item 14.




ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Not applicable.





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REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(A California limited partnership)

FINANCIAL STATEMENTS,
FINANCIAL STATEMENT SCHEDULES
AND INDEPENDENT PUBLIC ACCOUNTANTS REPORT
DECEMBER 31, 2001





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##### Table of Contents



REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To the Partners of
Real Estate Associates Limited VI
(A California limited partnership)

We have audited the accompanying consolidated balance sheets of Real Estate
Associates Limited VI (a California limited partnership) as of December 31, 2001
and 2000, and the related consolidated statements of operations, partners
equity (deficiency) and cash flows for each of the three years in the period
ended December 31, 2001. Our audits also included the financial statement
schedules listed in the index in Item 14. These financial statements and
financial statement schedules are the responsibility of the management of the
Partnership. Our responsibility is to express an opinion on these consolidated
financial statements and financial statement schedules based on our audits. We
did not audit the financial statements of certain limited partnerships, the
investments in which are reflected in the accompanying financial statements
using the equity method of accounting. The investments in these limited
partnerships represent 15 percent and 11 percent of total assets as of December
31, 2001 and 2000, respectively, and the equity in income of these limited
partnerships represents 3 percent, 5 percent and 5 percent of the total net
income of the Partnership for the years ended December 31, 2001, 2000 and 1999,
respectively, and represent a substantial portion of the investee information in
Note 2 and the financial statement schedules. The financial statements of these
limited partnerships were audited by other auditors. Their reports have been
furnished to us and our opinion, insofar as it relates to the amounts included
for these limited partnerships, is based solely on the reports of the other
auditors.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe our audits and the reports of other
auditors provide a reasonable basis for our opinion.

In our opinion, based on our audits and the reports of other auditors, the
consolidated financial statements referred to above present fairly, in all
material respects, the financial position of Real Estate Associates Limited VI
as of December 31, 2001 and 2000, and the results of its operations and its cash
flows for each of the three years in the period ended December 31, 2001 in
conformity with generally accepted accounting principles. Also, in our opinion,
based on our audits and the reports of other auditors, such financial statement
schedules, when considered in relation to the basic financial statements taken
as a whole, present fairly in all material respects the information set forth
therein.

DELOITTE & TOUCHE LLP

Los Angeles, California
April 5, 2002





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REAL ESTATE ASSOCIATES LIMITED VI
(a California limited partnership)




CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2001 AND 2000

ASSETS

|                                                 |                                                                         |                                            |            |            |           |      |           |           |           | 
|------------------------------------------------ | ----------------------------------------------------------------------- | ------------------------------------------ | ---------- | ---------- | --------- | ---- | --------- | --------- | --------- | 
|                                                 |                                                                         |                                            |            | 2001       |           | 2000
|                                                 |                                                                         |                                            |            |            |           |     
|INVESTMENTS IN LIMITED PARTNERSHIPS (Note 2)     |                                                                         | $                                          | 510,157    |            |           | $    | 541,072   |          
|CASH AND CASH EQUIVALENTS (Note 1)               |                                                                         |                                            | 2,147,466  |            |           |      | 3,197,380 |          
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|                                                 |                                                                         | TOTAL ASSETS                               |            | $          | 2,657,623 |      |           | $         | 3,738,452 | 
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|LIABILITIES AND PARTNERS DEFICIENCY            
|LIABILITIES:                                     |                                                                         |                                            |            |            |           |      |           |          
|                                                 | Notes payable and amounts due for partnership
interests (Notes 3 and 7) |                                            | $          | 1,765,000  |           |      | $         | 1,765,000 |          
|                                                 | Accrued interest payable (Notes 3 and 7)                                |                                            |            | 2,184,724  |           |      |           | 2,064,801 |          
|                                                 | Accounts payable                                                        |                                            |            | 71,423     |           |      |           | 16,429    |          
|                                                 | Due to affiliates (Note 4)                                              |                                            |            | 5,835      |           |      |           |          |          
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|                                                 |                                                                         |                                            | 4,026,982  |            |           |      | 3,846,230 |          
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|COMMITMENTS AND CONTINGENCIES (Notes 2, 4 and 5) |                                                                         |                                            |            |            |           |      |           |          
|PARTNERS EQUITY (DEFICIENCY):                   |                                                                         |                                            |            |            |           |      |           |          
|                                                 | General partners                                                        |                                            |            | (364,883   | )         |      |           | (352,267  | )        
|                                                 | Limited partners                                                        |                                            |            | (1,004,476 | )         |      |           | 244,489   |          
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|                                                 |                                                                         |                                            | (1,369,359 | )          |           |      | (107,778  | )        
|                                                 |                                                                         |                                            |            |            |           |      |           |          
|                                                 |                                                                         | TOTAL LIABILITIES AND PARTNERS DEFICIENCY |            | $          | 2,657,623 |      |           | $         | 3,738,452 | 
|                                                 |                                                                         |                                            |            |            |           |      |           |          

The accompanying notes are an integral part of these consolidated financial statements.

2



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REAL ESTATE ASSOCIATES LIMITED VI
(a California limited partnership)




CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |         | 
|------------------------------------------------------------------------------------- | ------------------------------------------ | - | ---------- | ------- | ---- | - | -------- | ------- |  | - | -------- | ------- | 
|                                                                                      |                                            |   | 2001       |         | 2000 |   | 1999    
|                                                                                      |                                            |   |            |         |      |   |         
|INTEREST AND OTHER INCOME                                                             |                                            | $ | 102,629    |         |      | $ | 185,690  |         |  | $ | 138,560  |        
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        
|OPERATING EXPENSES:                                                                   |                                            |   |            |         |      |   |          |         |  |   |          |        
|                                                                                      | Management fees  general partner (Note 4) |   |            | 206,433 |      |   |          | 206,433 |  |   |          | 206,433 | 
|                                                                                      | Legal and accounting                       |   |            | 180,882 |      |   |          | 120,546 |  |   |          | 96,827  | 
|                                                                                      | General and administrative                 |   |            | 199,880 |      |   |          | 94,901  |  |   |          | 271,276 | 
|                                                                                      | Interest (Note 3)                          |   |            | 136,800 |      |   |          | 136,800 |  |   |          | 140,550 | 
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        
|                                                                                      |                                            |   | 723,995    |         |      |   | 558,680  |         |  |   | 715,086  |        
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        
|LOSS FROM OPERATIONS                                                                  |                                            |   | (621,366   | )       |      |   | (372,990 | )       |  |   | (576,526 | )      
|EQUITY IN LOSS OF LIMITED PARTNERSHIPS
AND AMORTIZATION OF ACQUISITION
COSTS (Note 2) |                                            |   | (686,770   | )       |      |   | (111,586 | )       |  |   | (11,036  | )      
|DISTRIBUTIONS FROM LIMITED
PARTNERSHIPS RECOGNIZED AS
INCOME (Note 2)                 |                                            |   | 46,555     |         |      |   | 44,273   |         |  |   | 81,033   |        
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        
|NET LOSS                                                                              |                                            | $ | (1,261,581 | )       |      | $ | (440,303 | )       |  | $ | (506,529 | )      
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        
|NET LOSS PER LIMITED PARTNERSHIP
INTEREST (Note 1)                                    |                                            | $ | (74        | )       |      | $ | (26      | )       |  | $ | (30      | )      
|                                                                                      |                                            |   |            |         |      |   |          |         |  |   |          |        

The accompanying notes are an integral part of these consolidated financial statements.

3



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REAL ESTATE ASSOCIATES LIMITED VI
(a California limited partnership)




CONSOLIDATED STATEMENTS OF PARTNERS EQUITY (DEFICIENCY)
FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                       |                |   |          |         |          |   |            |            |   |   |            |            |  
|-------------------------------------- | -------------- | - | -------- | ------- | -------- | - | ---------- | ---------- | - | - | ---------- | ---------- | -
|                                       |                |   | General  |         | Limited  |   |            |            |  
|                                       |                |   | Partners |         | Partners |   | Total     
|                                       |                |   |          |         |          |   |           
|(DEFICIENCY) EQUITY, January 1, 1999   |                | $ | (314,828 | )       |          | $ | 3,950,963  |            |   | $ | 3,636,135  |           
|                                       | Distributions  |   |          | (27,971 | )        |   |            | (2,769,110 | ) |   |            | (2,797,081 | )
|                                       | Net loss, 1999 |   |          | (5,065  | )        |   |            | (501,464   | ) |   |            | (506,529   | )
|                                       |                |   |          |         |          |   |            |            |   |   |            |           
|(DEFICIENCY) EQUITY, December 31, 1999 |                |   | (347,864 | )       |          |   | 680,389    |            |   |   | 332,525    |           
|                                       | Net loss, 2000 |   |          | (4,403  | )        |   |            | (435,900   | ) |   |            | (440,303   | )
|                                       |                |   |          |         |          |   |            |            |   |   |            |           
|(DEFICIENCY) EQUITY, December 31, 2000 |                |   | (352,267 | )       |          |   | 244,489    |            |   |   | (107,778   | )         
|                                       | Net loss, 2001 |   |          | (12,616 | )        |   |            | (1,248,965 | ) |   |            | (1,261,581 | )
|                                       |                |   |          |         |          |   |            |            |   |   |            |           
|(DEFICIENCY) EQUITY, December 31, 2001 |                | $ | (364,883 | )       |          | $ | (1,004,476 | )          |   | $ | (1,369,359 | )         
|                                       |                |   |          |         |          |   |            |            |   |   |            |           

The accompanying notes are an integral part of these consolidated financial statements.

4



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REAL ESTATE ASSOCIATES LIMITED VI
(a California limited partnership)




CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |            |   |          |            |  
|------------------------------------------------- | ----------------------------------------------------------------------------------------- | -------------------------------------- | ---------------------------------------------------------------------------- | --------------------------------------------------- | ------ | ------- | --------- | -------- | ------ | ------- | ---------- | ---------- | - | -------- | ---------- | -
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        | 2001    |           | 2000     |        | 1999   
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |        
|CASH FLOWS FROM OPERATING ACTIVITIES:             |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  | Net loss                                                                                  |                                        | $                                                                            | (1,261,581                                          | )      |         | $         | (440,303 | )      |         | $          | (506,529   | )
|                                                  | Adjustments to reconcile net loss to net
cash (used in) provided by operating activities: |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |            |  
|                                                  |                                                                                           |                                        | Equity in loss of limited partnerships
and amortization of acquisition costs |                                                     |        | 686,770 |           |          |        | 111,586 |            |            |   | 11,036   |           
|                                                  |                                                                                           |                                        | Decrease (increase) in due from NAPICO                                       |                                                     |        |        |           |          |        | 239,770 |            |            |   | (239,770 | )         
|                                                  |                                                                                           |                                        | Decrease in other assets                                                     |                                                     |        |        |           |          |        |        |            |            |   | 50,985   |           
|                                                  |                                                                                           |                                        | Increase in accrued interest payable                                         |                                                     |        | 119,923 |           |          |        | 107,067 |            |            |   | 140,550  |           
|                                                  |                                                                                           |                                        | Increase (decrease) in accounts payable                                      |                                                     |        | 54,994  |           |          |        | 9,523   |            |            |   | (201,555 | )         
|                                                  |                                                                                           |                                        | Increase in due to affiliates                                                |                                                     |        | 5,835   |           |          |        |        |            |            |   |         |           
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  |                                                                                           |                                        |                                                                              | Net cash (used in) provided by operating activities |        |         | (394,059  | )        |        |         | 27,643     |            |   |          | (745,283   | )
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|CASH FLOWS FROM INVESTING ACTIVITIES:             |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  | Distributions
from limited partnerships recognized as a return of capital                 |                                        |                                                                              | 40,440                                              |        |         |           | 14,680   |        |         |            | 42,413     |  
|                                                  | Capital contribution to investee limited partnership                                      |                                        |                                                                              | (696,295                                            | )      |         |           | (157,338 | )      |         |            | (62,704    | )
|                                                  | Proceeds from sale of limited partnership interests                                       |                                        |                                                                              |                                                    |        |         |           |         |        |         |            | 1,397,081  |  
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  |                                                                                           |                                        |                                                                              | Net cash (used in) provided by investing activities |        |         | (655,855  | )        |        |         | (142,658   | )          |   |          | 1,376,790  |  
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|CASH FLOWS FROM FINANCING ACTIVITIES:             |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  | Payment of mortgages                                                                      |                                        |                                                                              |                                                    |        |         |           |         |        |         |            |           |  
|                                                  | Distributions to partners                                                                 |                                        |                                                                              |                                                    |        |         |           |         |        |         |            | (2,797,081 | )
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  |                                                                                           |                                        |                                                                              | Net cash used in financing activities               |        |         |          |          |        |         |           |            |   |          | (2,797,081 | )
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|NET DECREASE IN CASH AND
CASH EQUIVALENTS         |                                                                                           |                                        | (1,049,914                                                                   | )                                                   |        |         | (115,015  | )        |        |         | (2,165,574 | )         
|CASH AND CASH EQUIVALENTS,
BEGINNING OF YEAR      |                                                                                           |                                        | 3,197,380                                                                    |                                                     |        |         | 3,312,395 |          |        |         | 5,477,969  |           
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|CASH AND CASH EQUIVALENTS,
END OF YEAR            |                                                                                           | $                                      | 2,147,466                                                                    |                                                     |        | $       | 3,197,380 |          |        | $       | 3,312,395  |           
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION: |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           
|                                                  |                                                                                           | Cash paid during the year for interest |                                                                              | $                                                   | 16,877 |         |           | $        | 29,733 |         |            | $          |  |         
|                                                  |                                                                                           |                                        |                                                                              |                                                     |        |         |           |          |        |         |            |           

The accompanying notes are an integral part of these consolidated financial statements.

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)




NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2001



|1. |  | Summary of Significant Accounting Policies
|-- |  | ------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Organization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | Real Estate Associates Limited VI (the Partnership), was formed under the California Limited Partnership Act on October 12, 1982. The
Partnership was formed to invest primarily in other limited partnerships or joint ventures which own and operate primarily federal, state or
local government-assisted housing projects and to acquire, lease, sell or mortgage real or personal property. The general partners are
National Partnership Investments Associates (NAPIA), a limited partnership, and National Partnership Investments Corp. (NAPICO). The
business of the Partnership is conducted primarily by NAPICO.
|
| | Prior to December 30, 1998, NAPICO was a wholly owned subsidiary of Casden Investment Corporation (CIC), which is wholly owned by Alan I.
Casden. On December 30, 1998, Casden Properties Operating Partnership, L.P., (the Operating Partnership) a majority owned subsidiary of
Casden Properties Inc., a real estate investment trust organized by Alan I. Casden, purchased a 95.25% economic interest in NAPICO. The
business of REAL VI is conducted primarily by NAPICO.                                                                                                                                           
|
| | On December 3, 2001, Casden Properties Inc., entered into a merger agreement and certain other transaction documents with Apartment
Investment and Management Company, a Maryland corporation (AIMCO) and certain of its subsidiaries, pursuant to which, on March 11, 2002,
AIMCO acquired Casden Properties Inc. and its subsidiaries, including NAPICO.                                                                                                                                                                                                                                                                  
|
| | The consolidated financial statements include the accounts of Real Estate Associates Limited VI and its majority-owned general partnerships.
All significant intercompany accounts and transactions have been eliminated in consolidation. Losses in excess of the minority interest in
equity that would otherwise be attributed to the minority interest are being allocated to the Partnership.                                                                                                                                                                                                                            
|
| | The Partnership offered and issued 4,200 units of limited partner interests through a public offering. Each unit was comprised of two
limited partner interests and a warrant granting the investor the right to purchase two additional limited partner interests. An additional
8,410 interests were issued from the exercise of warrants and the sale of interests associated with warrants not exercised. The general
partners have a 1 percent interest in operating profits and losses of the Partnership. The limited partners have the remaining 99 percent
interest in proportion to their respective investments.   

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|1. |  | Summary of Significant Accounting Policies (Continued)
|-- |  | ------------------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Partnership shall be dissolved only upon the expiration of 50 complete calendar years (December 31, 2032) from the date of the formation
of the partnership or the occurrence of various other events as specified in the Partnership agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|
| | Upon total or partial liquidation of the Partnership or the disposition or partial disposition of a project or project interest and
distribution of the proceeds, the general partners will be entitled to a liquidation fee as stipulated in the Partnership agreement. The
limited partners will have a priority return equal to their invested capital attributable to the project(s) or project interest(s) sold and
shall receive from the sale of the project(s) or project interest(s) an amount sufficient to pay state and federal income taxes, if any,
calculated at the maximum rate then in effect. The general partners liquidation fee may accrue but shall not be paid until the limited
partners have received distributions equal to 100 percent of their capital contributions.
|
| | Basis of Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|
| | The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of
America.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|
| | Recent Accounting Pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|
| | In July 2001, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards Number (SFAS No.) 141, Business
Combinations and SFAS No. 142, Goodwill and Other Intangible Assets. SFAS No. 141 was effective immediately and SFAS 142 will be
effective January 2002. The new standards are not expected to have a significant impact on the Partnerships financial statements.                                                                                                                                                                                                                                                                                                                                                                                  
|
| | Use of Estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|
| | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.                                                                                                                                                                                                                                                                                                                      

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|1. |  | Summary of Significant Accounting Policies (Continued)
|-- |  | ------------------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                              
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Method of Accounting for Investments in Limited Partnerships                                                                                                                                                                                                                                                                                                                 
|
| | The investments in limited partnerships are accounted for on the equity method. Acquisition, selection and other costs related to the
acquisition of the projects have been capitalized as part of the investment account and are being amortized on a straight line basis over the
estimated lives of the underlying assets, which is generally 30 years.                   
|
| | Rental Property and Depreciation                                                                                                                                                                                                                                                                                                                                             
|
| | Rental property was stated at cost. Depreciation was provided on the straight-line and accelerated methods over the estimated useful lives
of the buildings and equipment. Pursuant to a purchase agreement in which the Partnership acquired its interest from independent withdrawing
general partners, certain rental property was revalued to reflect the purchase price.
|
| | Substantially all of the apartment units were leased on a month-to-month basis.                                                                                                                                                                                                                                                                                              
|
| | On December 30, 1998, the Partnership sold its consolidated general partnership interest, which was the owner of the rental property.                                                                                                                                                                                                                                        
|
| | Net Loss Per Limited Partnership Interest                                                                                                                                                                                                                                                                                                                                    
|
| | Net loss per limited partnership interest was computed by dividing the limited partners share of net loss by the number of limited
partnership interests outstanding during the year. The number of limited partnership interests was 16,810 for all years presented.                                                                                                       
|
| | Cash and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                    
|
| | Cash and cash equivalents consist of unrestricted cash and bank certificates of deposit with maturities of three months or less. The
Partnership has its cash and cash equivalents on deposit with high credit quality financial institutions. Such cash and cash equivalents are
in excess of the FDIC insurance limit.                                                     
|
| | Impairment of Long-Lived Assets                                                                                                                                                                                                                                                                                                                                              
|
| | The Partnership reviews long-lived assets to determine if there has been any permanent impairment whenever events or changes in circumstances
indicate that the carrying amount of the asset may not be recoverable. If the sum of the expected future cash flows is less than the
carrying amount of the assets, the Partnership recognizes an impairment loss.             

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|1. |  | Summary of Significant Accounting Policies (Continued)
|-- |  | ------------------------------------------------------

| |                                                                                              
| | ---------------------------------------------------------------------------------------------
| | No impairment losses were recognized during the years ended December 31, 2001, 2000 and 1999.



|2. |  | Investments in Limited Partnerships
|-- |  | -----------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Partnership holds limited partnership interests in 20 limited partnerships as of December 31, 2001 and 2000, after selling its interests
in 10 limited partnerships in 1998. In addition, REAL VI holds a general partner interest in Real Estate Associates III (REA III), a
California general partnership. NAPICO is also a general partner in REA III. REA III, in turn, holds limited partner interests in 3 limited
partnerships. In total, therefore, the Partnership holds interests, either directly or indirectly through REA III, in 23 limited
partnerships, which own residential low income rental projects consisting of 1,369 apartment units. The mortgage loans of these projects are
payable to or insured by various governmental agencies.
|
| | The Partnership, as a limited partner, is entitled to between 90 percent and 99 percent of the profits and losses of the limited partnerships
it has invested in directly. The Partnership is also entitled to 99.9 percent of the profits and losses of REA III. REA III holds a 99
percent interest in each of the limited partnerships in which it has invested.                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | Equity in losses of unconsolidated limited partnerships are recognized in the financial statements until the limited partnership investment
account is reduced to a zero balance or to a negative amount equal to further capital contributions required. Losses incurred after the
limited partnership investment account is reduced to zero are not recognized. The cumulative amount of the unrecognized equity in losses of
unconsolidated limited partnerships was approximately $11,752,000 and $11,357,000 as of December 31, 2001 and 2000, respectively.                                                                                                                                                                                                    
|
| | Distributions from the unconsolidated limited partnerships are accounted for as a return of capital until the investment balance is reduced
to zero. Subsequent distributions received are recognized as income.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|2. |  | Investments in Limited Partnerships (Continued)
|-- |  | -----------------------------------------------

| |                                                                                                                                             
| | --------------------------------------------------------------------------------------------------------------------------------------------
| | The following is a summary of the investments in unconsolidated limited partnerships and reconciliation to the limited partnership accounts:

|                                                       |  |      |          |      |  |   |          |  
|------------------------------------------------------ |  | ---- | -------- | ---- |  | - | -------- | -
|                                                       |  | 2001 |          | 2000
|                                                       |  |      |          |     
|Investment balance, beginning of year                  |  | $    | 541,072  |      |  | $ | 509,999  |  
|Equity in loss of limited partnerships                 |  |      | (680,458 | )    |  |   | (105,273 | )
|Amortization of capitalized acquisition costs and fees |  |      | (6,312   | )    |  |   | (6,312   | )
|Capital contributions                                  |  |      | 696,295  |      |  |   | 157,338  |  
|Distributions recognized as a return of capital        |  |      | (40,440  | )    |  |   | (14,680  | )
|                                                       |  |      |          |      |  |   |          |  
|Investment balance, end of year                        |  | $    | 510,157  |      |  | $ | 541,072  |  
|                                                       |  |      |          |      |  |   |          |  

| |                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The difference between the investment per the accompanying balance sheets at December 31, 2001 and 2000, and the deficiency per the limited
partnerships combined financial statements is due primarily to cumulative unrecognized equity in losses of limited partnerships, additional
basis and costs capitalized to the investment account, cumulative distributions recognized as income and recognition of impairment losses.
|
| | Selected financial information from the combined financial statements at December 31, 2001 and 2000 and for each of the three years in the
period ended December 31, 2001, of the limited partnerships in which the Partnership has invested directly or indirectly, is as follows:                                                                                                                                                

Balance Sheets

|                                                    |  |                |         |      |  |   |        |  
|--------------------------------------------------- |  | -------------- | ------- | ---- |  | - | ------ | -
|                                                    |  | 2001           |         | 2000
|                                                    |  |                |         |     
|                                                    |  | (in thousands)
|Land and buildings, net                             |  | $              | 20,483  |      |  | $ | 21,486 |  
|                                                    |  |                |         |      |  |   |        |  
|Total assets                                        |  | $              | 30,268  |      |  | $ | 30,598 |  
|                                                    |  |                |         |      |  |   |        |  
|Mortgage loans payable                              |  | $              | 30,087  |      |  | $ | 32,798 |  
|                                                    |  |                |         |      |  |   |        |  
|Total liabilities                                   |  | $              | 38,997  |      |  | $ | 40,270 |  
|                                                    |  |                |         |      |  |   |        |  
|Deficiency of the Real Estate Associates Limited VI |  | $              | (10,204 | )    |  | $ | (9,776 | )
|                                                    |  |                |         |      |  |   |        |  
|Equity of other partners                            |  | $              | 1,475   |      |  | $ | 104    |  
|                                                    |  |                |         |      |  |   |        |  

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|2. |  | Investments in Limited Partnerships (Continued)
|-- |  | -----------------------------------------------

Statements of Operations

|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|------------------------------------- |  | ---- | ------ | ---- |  | -------------- | ------ | - |  | - | ------ | -
|                                      |  | 2001 |        | 2000 |  | 1999          
|                                      |  |      |        |      |  |               
|                                      |  |      |        |      |  | (in thousands) |        |   |  |  
|Total revenue                         |  | $    | 10,032 |      |  | $              | 9,895  |   |  | $ | 9,928  |  
|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|Interest expense                      |  | $    | 2,560  |      |  | $              | 2,588  |   |  | $ | 2,675  |  
|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|Depreciation                          |  | $    | 1,603  |      |  | $              | 1,612  |   |  | $ | 1,603  |  
|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|Total expenses                        |  | $    | 10,396 |      |  | $              | 10,336 |   |  | $ | 10,354 |  
|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|Net loss                              |  | $    | (364   | )    |  | $              | (441   | ) |  | $ | (426   | )
|                                      |  |      |        |      |  |                |        |   |  |   |        |  
|Net loss allocable to the Partnership |  | $    | (363   | )    |  | $              | (440   | ) |  | $ | (426   | )
|                                      |  |      |        |      |  |                |        |   |  |   |        |  

| |                                                                                                                                                                                                                                                                                                                                                                                     
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Land and buildings above have been adjusted for the amount by which the investments in the limited partnerships exceed the Partnerships
share of the net book value of the underlying net assets of the investee which are recorded at historical costs. Depreciation on the
adjustment is provided for over the estimated remaining useful lives of the properties.               
|
| | An affiliate of NAPICO is the general partner in 6 of the limited partnerships included above, and another affiliate received property
management fees ranging from 5 percent to 7 percent of the revenue from four of these partnerships. The affiliate received property
management fees of $108,835, $72,739 and $77,003 in 2001, 2000 and 1999, respectively. The following sets

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|2. |  | Investments in Limited Partnerships (Continued)
|-- |  | -----------------------------------------------

| |                                                                                                                                                                                                  
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | forth the significant data for the partnerships in which an affiliate of NAPICO is the general partner, reflected in the accompanying
financial statements using the equity method of accounting:

|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|----------------------------------------------- |  | ---- | ------ | ---- |  | -------------- | ------ | - |  | - | ----- | -
|                                                |  | 2001 |        | 2000 |  | 1999          
|                                                |  |      |        |      |  |               
|                                                |  |      |        |      |  | (in thousands) |        |   |  |  
|Total assets                                    |  | $    | 5,500  |      |  | $              | 5,559  |   |  |   |       |  
|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|Total liabilities                               |  | $    | 7,094  |      |  | $              | 8,307  |   |  |   |       |  
|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|Deficiency of Real Estate Associates Limited VI |  | $    | (2,884 | )    |  | $              | (2,648 | ) |  |   |       |  
|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|Deficiency of other partners                    |  | $    | 1,290  |      |  | $              | (100   | ) |  |   |       |  
|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|Total revenue                                   |  | $    | 2,000  |      |  | $              | 1,923  |   |  | $ | 1,939 |  
|                                                |  |      |        |      |  |                |        |   |  |   |       |  
|Net loss                                        |  | $    | (214   | )    |  | $              | (340   | ) |  | $ | (321  | )
|                                                |  |      |        |      |  |                |        |   |  |   |       |  

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Under recently adopted law and policy, the United States Department of Housing and Urban Development (HUD) has determined not to renew the
Housing Assistance Payment (HAP) Contracts on a long term basis on the existing terms. In connection with renewals of the HAP Contracts
under such new law and policy, the amount of rental assistance payments under renewed HAP Contracts will be based on market rentals instead
of above market rentals, which may be the case under existing HAP Contracts. The payments under the renewed HAP Contracts may not be in an
amount that would provide sufficient cash flow to permit owners of properties subject to HAP Contracts to meet the debt service requirements
of existing loans insured by the Federal Housing Administration of HUD (FHA) unless such mortgage loans are restructured. In order to
address the reduction in payments under HAP Contracts as a result of this new policy, the Multi-family Assisted Housing Reform and
Affordability Act of 1997 (MAHRAA) provides for the restructuring of mortgage loans insured by the FHA with respect to properties subject
to the Section 8 program. Under MAHRAA, an FHA-insured mortgage loan can be restructured into a first mortgage loan which will be amortized
on a current basis and a low interest second mortgage loan payable to FHA which will only be payable on maturity of the first mortgage loan.
This restructuring results in a reduction in annual debt service payable by the owner of the FHA-insured mortgage loan and is expected to
result in an insurance payment from FHA to the holder of the FHA-insured loan due to the reduction in the

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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|2. |  | Investments in Limited Partnerships (Continued)
|-- |  | -----------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | principal amount. MAHRAA also phases out project-based subsidies on selected properties serving families not located in rental markets with
limited supply, converting such subsidies to a tenant-based subsidy.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|
| | When the HAP Contracts are subject to renewal, there can be no assurance that the local limited partnerships in which the Partnership has an
investment will be permitted to restructure its mortgage indebtedness under MAHRAA. In addition, the economic impact on the Partnership of
the combination of the reduced payments under the HAP Contracts and the restructuring of the existing FHA-insured mortgage loans under MAHRAA
is uncertain.                                                                                                                                                                                                                                                                                                                                                                 
|
| | As a result of the foregoing, the Partnership, in 1997, commenced an extensive review of disposition, refinancing or re-engineering
alternatives for the properties in which the limited partnerships have invested and are subject to HUD mortgage and rental subsidy programs.
The Partnership has incurred expenses in connection with this review by various third party professionals, including accounting, legal,
valuation, structural and engineering costs, which amounted to $97,556 for the year ended December 31, 1999, and are included in partnership
general and administrative expenses.                                                                                                                                                                                                          
|
| | On December 30, 1998, the Partnership sold its limited partnership interests in 10 local limited partnerships, with a total carrying value of
$3,878,886, and its general partner interest in one local general partnership, with a partner deficit of $1,507,828, to the Operating
Partnership. The sale resulted in cash proceeds to the Partnership of a $1,397,081 and a net gain of $7,497,969, after being relieved of
notes and interest payable of $8,712,920 and incurring selling expenses of $240,994. The cash proceeds were held in escrow at December 31,
1998 and were collected in 1999. In March 1999, the Partnership made cash distributions of $2,769,110 to the limited partners and $27,971 to
the general partners, which included using proceeds from the sale of the partnership interests.
|
| | The Operating Partnership purchased such limited partner interests for cash, which it raised in connection with a private placement of its
equity securities. The purchase was subject to, among other things, (i) the purchase of the general partner interests in the local limited
partnerships by the Operating Partnership; (ii) the approval of HUD and certain state housing finance agencies; and (iii) the consent of the
limited partners to the sale of the local limited partnership interests held for investment by the Partnership.                                                                                                                                                                                                                                                                  

13



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##### Table of Contents



REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|2. |  | Investments in Limited Partnerships (Continued)
|-- |  | -----------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | In August 1998, a consent solicitation statement was sent to the limited partners setting forth the terms and conditions of the purchase of
the limited partners interests held for investment by the Partnership, together with certain amendments to the Partnership Agreement and
other disclosures of various conflicts of interest in connection with the proposed transaction. Prior to the sale of the partnership
interests, the consents of the limited partners to the sale and amendments to the Partnership Agreement were obtained.



|3. |  | Notes Payable and Amounts Due for Partnership Interests
|-- |  | -------------------------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Certain of the Partnerships investments involved purchases of partnership interests from partners who subsequently withdrew from the
operating partnership. The purchase of these interests provides for additional cash payments of approximately $325,000, based upon specified
events as outlined in the purchase agreements. Such amounts have been recorded as liabilities. In addition, the Partnership is obligated on
non-recourse notes payable of $1,440,000 which bear interest at 9.5 to 10 percent per annum and have principal maturities ranging from
December 1999 to December 2012. Notes payable and related accrued interest payable aggregating $1,318,388 became payable prior to December
31, 2001. Management is in process of attempting to negotiate extensions of the maturity dates on these notes payable.
|
| | The notes and related interest are payable from cash flow generated from operations of the related rental properties as defined in the
notes. These obligations are collateralized by the Partnerships investments in the limited partnerships. Unpaid interest is due at
maturity of the notes.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | Maturity dates of the notes payable and related accrued interest are as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

|                          |      |       |           |          |  |   |           |           | 
|------------------------- | ---- | ----- | --------- | -------- |  | - | --------- | --------- | 
|                          |      |       |           |          |  |   | Accrued  
|Years Ending December 31, |      | Notes |           | Interest
|                          |      |       |           |         
|                          | 2002 |       | $         | 520,000  |  |   | $         | 847,788   | 
|                          | 2003 |       |           |         |  |   |           |          | 
|                          | 2004 |       |           |         |  |   |           |          | 
|                          | 2005 |       |           | 750,000  |  |   |           | 1,044,751 | 
|                          | 2006 |       |           |         |  |   |           |          | 
|Thereafter                |      |       | 170,000   |          |  |   | 292,185   |          
|                          |      |       |           |          |  |   |           |          
|                          |      | $     | 1,440,000 |          |  | $ | 2,184,724 |          
|                          |      |       |           |          |  |   |           |          

14



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REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|4. |  | Fees and Expenses Due General Partner
|-- |  | -------------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Under the terms of the Restated Certificate and Agreement of Limited Partnership, the Partnership is obligated to NAPICO for an annual
management fee equal to .4 percent of the original remaining invested assets of the partnerships. Invested assets is defined as the costs of
acquiring project interests, including the proportionate amount of the mortgage loans related to the Partnerships interests in the capital
accounts of the respective partnerships.
|
| | The Partnership reimburses NAPICO for certain expenses. The reimbursement to NAPICO was $22,740, $20,424 and $41,364 in 2001, 2000 and 1999,
respectively, and is included in general and administrative expenses.                                                                                                                                                                                                                                                      
|
| | At December 31, 2001, $5,835 is due to other partnerships in which NAPICO is also the general partner.                                                                                                                                                                                                                                                                                                                                                                  



|5. |  | Contingencies
|-- |  | -------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Class Action                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|
| | On August 27, 1998, two investors holding an aggregate of eight units of limited partnership interests in Real Estate Associates Limited III
(a partnership in which NAPICO is a general partner) and two investors holding an aggregate of five units of limited partnership interest in
Real Estate Associates Limited VI (another partnership in which Company is a general partner) commenced an action in the United States
District Court for the Central District of California on behalf of themselves and all other similarly situated, against the Partnership,
NAPICO and certain other affiliated entities. The complaint alleges that the defendants breached their fiduciary duty to the limited
partners of such Funds and made materially false and misleading statements in the consent solicitation statements that were disseminated to
the limited partners of such Funds relating to approval of the transfer of partnership interests in limited partnerships to the Operating
Partnership. The plaintiffs seek preliminary and permanent injunction relief and other equitable relief, as well as compensatory and punitive
damages. However, plaintiffs made no effort to enjoin the transaction from taking place. On August 4, 1999, a holder of one unit of limited
partnership interest in Housing Programs Limited (a partnership in which the Company is a general partner) filed a lawsuit similar to the one
discussed above against added Housing Programs Limited. The second action has been subsumed in the first action, which has been certified as
a class action.
|
| | After defendants moved for summary disposition of the action, plaintiffs filed a motion for leave to file an amended complaint. Although
defendants opposed the filing of the complaint proposed by plaintiffs, the court issued an order on July 20, 2001 granting plaintiffs leave
to                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

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REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|5. |  | Contingencies (Continued)
|-- |  | -------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | amend but denying them leave to file the complaint they proposed. Plaintiffs filed a Second, Restated, Amended and Supplemental Complaint
dated August 7, 2001 and on August 21, 2001 filed a Corrected Second, Restated, Amended and Supplemental Complaint (CSRASC). The CSRASC adds
eight new defendants and six new counts which were not included in prior complaints. The new counts include; (i) violations of the
anti-bundling rules of the Securities and Exchange Act of 1934, (ii) violation of the doctrine of inherent fairness, (iii) a declaratory
judgment that the certain defendants are not entitled to indemnification under the partnership agreements, (iv) rescission of the business
combination discussed in Note 1, (v) a constructive trust on any recovery from a separate lawsuit pending in the United States District Court
of the Middle District of Pennsylvania which was brought on behalf of several limited partnerships which are not parties to this action; and
(vi) an accounting. Defendants made a motion to dismiss the CSRASC, which was denied. The court found that the issues presented would be
more appropriate resolved in a motion for summary judgment or summary adjudication. Defendants intend to make such a motion. The deadline
to do so is April 1, 2002.
|
| | Defendants denied allegations in the CSRASC in their answer. The parties are in the process of conducting discovery. The discovery deadline
is February 28, 2002 and the trial is scheduled for July 16, 2002. A motion is before the court to extend these deadlines and the hearing on
that issue is scheduled for February 4, 2002. Once discovery is complete, defendants will move for summary judgement dismissing the complaint.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|
| | Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| | The holder of a purchase money promissory note issued by Century Plaza limited partnership, one of the Partnerships investments, in the
amount of $960,000 plus accrued interest payable of $1,579,451 as of December 31, 2001, filed a suit seeking a monetary judgment against the
Partnership and the other partners. The Partnership and other defendants contend the not is non-recourse and intend to vigorously defend the
action. The Partnership has no investment balance related to this Local Partnership.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | Plaintiff, who is a limited partner in the Partnership, claims that NAPICO and other defendants (1) have refused to provide the plaintiff
with access to the books and records of the Partnership, and (2) have breached their fiduciary duties and the partnership agreement by
failing to provide such access and by failing to act in the best interest of the Partnership. The defendants have, however, provided their
books and records to plaintiff pursuant to a protective order. Plaintiff has failed to quantify its purported damages. Trial is schedule
for August 13, 2002.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

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REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|5. |  | Contingencies (Continued)
|-- |  | -------------------------

| |                                                                                                                                                                                                                                                                                                                                                 
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The managing general partner of such NAPICO managed partnerships and the other defendants believe that the plaintiffs claims are without
merit and intend to contest the actions vigorously.                                                                                                                                                   
|
| | The corporate general partner of the Partnership is a plaintiff in various lawsuits and has also been named a defendant in other lawsuits
arising from transactions in the ordinary course of business. In the opinion of management and the corporate general partner, the claims
will not result in any material liability to the Partnership.



|6. |  | Income Taxes
|-- |  | ------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | No provision has been made for income taxes in the accompanying financial statements since such taxes, if any, are the liability of the
individual partners. The major differences in tax and financial reporting result from the use of different bases and depreciation methods
for the properties held by the limited partnerships. Differences in tax and financial reporting also arise as losses are not recognized for
financial reporting purposes when the investment balance has been reduced to zero or to a negative amount equal to further capital
contributions required.



|7. |  | Fair Value of Financial Instruments
|-- |  | -----------------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Statement of Financial Accounting Standards No. 107, Disclosure about Fair Value of Financial Instruments, requires disclosure of fair
value information about financial instruments, when it is practicable to estimate that value. The notes payable and amounts due for
partnership interests are collateralized by the Partnerships investments in investee limited partnerships and are payable only out of cash
distributions from investee partnerships. The operations generated by the investee limited partnerships, which account for the Partnerships
primary source of revenues, are subject to various government rules, regulations and restrictions which make it impracticable to estimate the
fair value of the notes and related accrued interest payable. The carrying amount of other assets and liabilities reported on the balance
sheets that require such disclosure approximates fair value due to their short-term maturity.

17



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REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
(a California limited partnership)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2001



|8. |  | Fourth-Quarter Adjustment
|-- |  | -------------------------

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Partnerships policy is to record its equity in the loss of limited partnerships on a quarterly basis using estimated financial
information furnished by the various local operating general partners. The equity in loss of limited partnerships reflected in the
accompanying annual consolidated financial statements is based primarily upon audited financial statements of the investee limited
partnerships. The difference of $215,046 between the estimated nine-month equity in loss and the actual 2001 year end equity in loss, has
been recorded in the fourth quarter.

18



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##### Table of Contents



SCHEDULE

REAL ESTATE ASSOCIATES LIMITED VI
INVESTMENTS IN LIMITED PARTNERSHIPS
YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                  |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |          |   |  |   |         | 
|--------------------------------- |  | ---------------------------- | ------- | ------- |  | ------------ | ------- | ------------ |  | ------ | ------ | ---------- |  | --------- | ------- | ------ |  | - | -------- | - |  | - | ------- | 
|                                  |  | Year Ended December 31, 2001
|                                  |  |                             
|                                  |  |                              |         |         |  |              |         |              |  |        |        |            |  | Cash From |         | Equity |  |   |          |  
|                                  |  |                              |         |         |  | Capital      |         |              |  |        |        | Distri-    |  | in        |         |        |  |  
|                                  |  | Balance                      |         | Contri- |  | Amortization |         | butions/Sale |  | Income |        | Balance   
|Limited Partnerships              |  | 12/31/2000                   |         | butions |  | Acq costs    |         | Received     |  | (Loss) |        | 12/31/2001
|                                  |  |                              |         |         |  |              |         |              |  |        |        |           
|Boynton Terrace                   |  | $                            |         |         |  | $            | 235,986 |              |  | $      |        |            |  | $         |         |        |  | $ | (235,986 | ) |  | $ |        | 
|Cady Brook Apts                   |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Cassidy Village                   |  |                              | 184,666 |         |  |              |         |              |  |        | (1,612 | )          |  |           |         |        |  |   | (16,163  | ) |  |   | 166,891 | 
|Crockett Manor                    |  |                              |         |         |  |              | 100,303 |              |  |        |        |            |  |           |         |        |  |   | (100,303 | ) |  |   |        | 
|Eastridge Apts                    |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Filmore I                         |  |                              |         |         |  |              | 65,705  |              |  |        |        |            |  |           |         |        |  |   | (65,705  | ) |  |   |        | 
|Grant-Ko Enterprises              |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Hummelstown Manor                 |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Kentucky Manor                    |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Lonsdale Elderly                  |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Marshall Plaza I                  |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Marshall Plaza II                 |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|New-Bel-Mo Enterprises            |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Oakridge Apts                     |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Oakwood Manor                     |  |                              |         |         |  |              | 37,355  |              |  |        |        |            |  |           |         |        |  |   | (37,355  | ) |  |   |        | 
|Park Place Apts., NJ              |  |                              | 356,406 |         |  |              |         |              |  |        | (4,700 | )          |  |           | (40,440 | )      |  |   | 32,000   |   |  |   | 343,266 | 
|Parkesedge Elderly Apts           |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Paula Maria Apts. (Century Plaza) |  |                              |         |         |  |              | 30,396  |              |  |        |        |            |  |           |         |        |  |   | (30,396  | ) |  |   |        | 
|Penneco II                        |  |                              |         |         |  |              | 211,950 |              |  |        |        |            |  |           |         |        |  |   | (211,950 | ) |  |   |        | 
|Sauk-Ko Enterprises               |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|SOL 413                           |  |                              |         |         |  |              | 14,600  |              |  |        |        |            |  |           |         |        |  |   | (14,600  | ) |  |   |        | 
|Valley Oak Apts                   |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|Villas de Orocovix                |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |         |   |  |   |        | 
|                                  |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |          |   |  |   |         | 
|                                  |  | $                            | 541,072 |         |  | $            | 696,295 |              |  | $      | (6,312 | )          |  | $         | (40,440 | )      |  | $ | (680,458 | ) |  | $ | 510,157 | 
|                                  |  |                              |         |         |  |              |         |              |  |        |        |            |  |           |         |        |  |   |          |   |  |   |         | 





---



##### Table of Contents



SCHEDULE
(Continued)

REAL ESTATE ASSOCIATES LIMITED VI
INVESTMENTS IN LIMITED PARTNERSHIPS
YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                  |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|--------------------------------- |  | ---------------------------- | ------- | ------------- |  | ------------ | ------- | ------------ |  | ------------- | - | ------------ |  | --------- | ------- | - |  | ------- | -------- | - |  | - | ------- | 
|                                  |  | Year Ended December 31, 2000
|                                  |  |                             
|                                  |  |                              |         |               |  |              |         |              |  |               |   |              |  | Cash From |         |   |  |         |          |   |  |  
|                                  |  | Balance                      |         |               |  |              |         |              |  |               |   | Distri-      |  |           |         |   |  | Balance
|                                  |  | January 1,                   |         | Capital       |  | Amortization |         | butions/Sale |  | Equity in     |   | December 31,
|Limited Partnerships              |  | 2000                         |         | Contributions |  | Acq costs    |         | Received     |  | Income/(Loss) |   | 2000        
|                                  |  |                              |         |               |  |              |         |              |  |               |   |             
|Boynton Terrace                   |  | $                            |         |               |  | $            | 25,000  |              |  | $             |   |              |  | $         |         |   |  | $       | (25,000  | ) |  | $ |        | 
|Cady Brook Apts                   |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Cassidy Village                   |  |                              | 205,129 |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         | (20,463  | ) |  |   | 184,666 | 
|Crockett Manor                    |  |                              |         |               |  |              | 63,636  |              |  |               |   |              |  |           |         |   |  |         | (63,636  | ) |  |   |        | 
|Eastridge Apts                    |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Filmore I                         |  |                              |         |               |  |              | 26,927  |              |  |               |   |              |  |           |         |   |  |         | (26,927  | ) |  |   |        | 
|Grant-Ko Enterprises              |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Hummelstown Manor                 |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Kentucky Manor                    |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Lonsdale Elderly                  |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Marshall Plaza I                  |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Marshall Plaza II                 |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|New-Bel-Mo Enterprises            |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Oakridge Apts                     |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Oakwood Manor                     |  |                              |         |               |  |              | 39,500  |              |  |               |   |              |  |           |         |   |  |         | (39,500  | ) |  |   |        | 
|Park Place Apts., NJ              |  |                              | 304,870 |               |  |              |         |              |  |               |   |              |  |           | (14,680 | ) |  |         | 66,216   |   |  |   | 356,406 | 
|Parkesedge Elderly Apts           |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Paula Maria Apts. (Century Plaza) |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Penneco II                        |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Sauk-Ko Enterprises               |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|SOL 413                           |  |                              |         |               |  |              | 2,275   |              |  |               |   |              |  |           |         |   |  |         | (2,275   | ) |  |   |        | 
|Valley Oak Apts                   |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|Villas de Orocovix                |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|                                  |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 
|                                  |  | $                            | 509,999 |               |  | $            | 157,338 |              |  | $             |  |              |  | $         | (14,680 | ) |  | $       | (111,585 | ) |  | $ | 541,072 | 
|                                  |  |                              |         |               |  |              |         |              |  |               |   |              |  |           |         |   |  |         |          |   |  |   |         | 





---



##### Table of Contents



SCHEDULE
(Continued)

REAL ESTATE ASSOCIATES LIMITED VI
INVESTMENTS IN LIMITED PARTNERSHIPS
YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999

|                                  |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|--------------------------------- |  | ---------------------------- | ------- | ------------- |  | ------------ | ------ | ------------ |  | ------------- | - | ------------ |  | --------- | ------- | - |  | ------- | ------- | - |  | - | ------- | 
|                                  |  | Year Ended December 31, 1999
|                                  |  |                             
|                                  |  |                              |         |               |  |              |        |              |  |               |   |              |  | Cash From |         |   |  |         |         |   |  |  
|                                  |  | Balance                      |         |               |  |              |        |              |  |               |   | Distri-      |  |           |         |   |  | Balance
|                                  |  | January
1,                   |         | Capital       |  | Amortization |        | butions/Sale |  | Equity in     |   | December
31,
|Limited Partnerships              |  | 1999                         |         | Contributions |  | Acq costs    |        | Received     |  | Income/(Loss) |   | 1999        
|                                  |  |                              |         |               |  |              |        |              |  |               |   |             
|Boynton Terrace                   |  | $                            |         |               |  | $            |        |              |  | $             |   |              |  | $         |         |   |  | $       |         |   |  | $ |         | 
|Cady Brook Apts                   |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Cassidy Village                   |  |                              | 229,113 |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         | (23,984 | ) |  |   | 205,129 | 
|Crockett Manor                    |  |                              |         |               |  |              | 35,000 |              |  |               |   |              |  |           |         |   |  |         | (35,000 | ) |  |   |        | 
|Eastridge Apts                    |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Filmore I                         |  |                              |         |               |  |              | 17,604 |              |  |               |   |              |  |           |         |   |  |         | (17,604 | ) |  |   |        | 
|Grant-Ko Enterprises              |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Hummelstown Manor                 |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Kentucky Manor                    |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Lonsdale Elderly                  |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Marshall Plaza I                  |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Marshall Plaza II                 |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|New-Bel-Mo Enterprises            |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Oakridge Apts                     |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Oakwood Manor                     |  |                              |         |               |  |              | 4,000  |              |  |               |   |              |  |           | (4,000  | ) |  |         |         |   |  |   |        | 
|Park Place Apts., NJ              |  |                              | 271,631 |               |  |              |        |              |  |               |   |              |  |           | (38,413 | ) |  |         | 71,652  |   |  |   | 304,870 | 
|Parkesedge Elderly Apts           |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Paula Maria Apts. (Century Plaza) |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Penneco II                        |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Sauk-Ko Enterprises               |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|SOL 413                           |  |                              |         |               |  |              | 6,100  |              |  |               |   |              |  |           |         |   |  |         | (6,100  | ) |  |   |        | 
|Valley Oak Apts                   |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|Villas de Orocovix                |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|                                  |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 
|                                  |  | $                            | 500,744 |               |  | $            | 62,704 |              |  | $             |  |              |  | $         | (42,413 | ) |  | $       | (11,036 | ) |  | $ | 509,999 | 
|                                  |  |                              |         |               |  |              |        |              |  |               |   |              |  |           |         |   |  |         |         |   |  |   |         | 





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##### Table of Contents



SCHEDULE
(Continued)

REAL ESTATE ASSOCIATES LIMITED VI
INVESTMENTS IN LIMITED PARTNERSHIPS
FOR THE YEARS ENDED
DECEMBER 31, 2001, 2000 AND 1999

|       |  |  |    |  |  |                                                                                                                                                                                                                                                                                                                                          
|------ |  |  | -- |  |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|NOTES: |  |  | 1. |  |  | Equity in losses represents the Partnerships allocable share of the
net loss from the limited partnerships for the year. Equity in losses of
the limited partnerships will be recognized until the investment balance
is reduced to zero or below zero to an amount equal to future capital
contributions to be made by the Partnership.
|      
|       |  |  | 2. |  |  | Cash distributions from the limited partnerships will be
treated as a return of the investment and will reduce the
investment balance until such time as the investment is reduced to
an amount equal to additional contributions. Distributions
subsequently received will be recognized as income.                                     





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##### Table of Contents



SCHEDULE III

REAL ESTATE ASSOCIATES LIMITED VI
REAL ESTATE AND ACCUMULATED DEPRECIATION OF PROPERTY
HELD BY LOCAL LIMITED PARTNERSHIPS
IN WHICH REAL VI HAS INVESTMENTS
DECEMBER 31, 2001

|       |  |  |    |  |  |                                                                                                                                                                                                          
|------ |  |  | -- |  |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|NOTES: |  |  | 1. |  |  | Each local partnership has developed, owns and operates the housing project.
Substantially all project costs, including construction period interest expense, were
capitalized by the local partnerships.
|      
|       |  |  | 2. |  |  | Depreciation is provided for by various methods over the estimated useful lives of
the projects. The estimated composite useful lives of the buildings are generally
from 25 to 40 years.                
|      
|       |  |  | 3. |  |  | Investments in property and equipment  limited partnerships:                                                                                                                                            

|                           |  |      |           |           |  |              |            |  |  |   |            | 
|-------------------------- |  | ---- | --------- | --------- |  | ------------ | ---------- |  |  | - | ---------- | 
|                           |  |      |           |           |  | Buildings,   |            |  |  |  
|                           |  |      |           |           |  | Furnishings, |            |  |  |  
|                           |  |      |           |           |  | And          |            |  |  |  
|                           |  | Land |           | Equipment |  | Total       
|                           |  |      |           |           |  |             
|Balance, January 1, 1999   |  | $    | 2,602,635 |           |  | $            | 48,359,426 |  |  | $ | 50,962,061 | 
|Net additions, 1999        |  |      |          |           |  |              | 356,504    |  |  |   | 356,504    | 
|                           |  |      |           |           |  |              |            |  |  |   |            | 
|Balance, December 31, 1999 |  |      | 2,602,635 |           |  |              | 48,715,930 |  |  |   | 51,318,565 | 
|Net additions, 2000        |  |      | 24,500    |           |  |              | 265,891    |  |  |   | 290,391    | 
|                           |  |      |           |           |  |              |            |  |  |   |            | 
|Balance, December 31, 2000 |  |      | 2,627,135 |           |  |              | 48,981,821 |  |  |   | 51,608,956 | 
|Net additions, 2001        |  |      | 520       |           |  |              | 613,277    |  |  |   | 613,797    | 
|                           |  |      |           |           |  |              |            |  |  |   |            | 
|Balance, December 31, 2001 |  | $    | 2,627,655 |           |  | $            | 49,595,098 |  |  | $ | 52,222,753 | 
|                           |  |      |           |           |  |              |            |  |  |   |            | 





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##### Table of Contents



SCHEDULE III

REAL ESTATE ASSOCIATES LIMITED VI
REAL ESTATE AND ACCUMULATED DEPRECIATION
OF PROPERTY HELD BY LOCAL LIMITED PARTNERSHIPS
IN WHICH REAL VI HAS INVESTMENTS
DECEMBER 31, 2001

|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------ | ----- | ------ | ---- | ----------- | ---- | ---------- | ------ |  | ------------- | -------------- | ------------ | ----------- | ------ | ---------------------- |  | ------------ | - | ---------- |  |  | - | ---------- |  |  |  | --------- | - | 
|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |        | Buildings, Furnishings |  | Total        |   |            |  |  |   |            |  | 
|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |        | and Equipment          |  | Land         |   |            |  |  |   |            |  | 
|                                                                                                                                                              |                                                  |       | Number |      | Outstanding |      |            |        |  |               | Amount Carried |              | Buildings,  |        |                        |  |              |   |            |  | 
|                                                                                                                                                              |                                                  |       | of     |      | Mortgage    |      |            |        |  |               | at Close of    |              | Furnishings |        | Accumulated            |  | Construction
|Partnership/Location                                                                                                                                          |                                                  | Units |        | Loan |             | Land |            | Period |  | and Equipment |                | Depreciation |             | Period
|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |       
|Boynton
          Terrace                                                                                                                                     |                                                  |       | 89     |      |             | $    | 4,470,000  |        |  | $             | $208,001       |              |             | $      | 4,147,980              |  |              | $ | 4,355,981  |  |  | $ | 2,523,214  |  |  |  | 1983-1984 |  
|                                                                                                                                                              | Boyton
          Beach, FL                       |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Cadybrook                                                                                                                                                     |                                                  |       | 40     |      |             |      | 945,050    |        |  |               | 89,225         |              |             |        | 1,938,400              |  |              |   | 2,027,625  |  |  |   | 783,957    |  |  |  | (A        | )
|                                                                                                                                                              | Charlton,
          MA                           |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Crockett
          Manor                                                                                                                                      |                                                  |       | 38     |      |             |      | 980,410    |        |  |               | 10,000         |              |             |        | 1,271,228              |  |              |   | 1,281,228  |  |  |   | 798,213    |  |  |  | (A        | )
|                                                                                                                                                              | Trenton,
          TN                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Eastridge
          Apts                                                                                                                                      |                                                  |       | 96     |      |             |      | 450,706    |        |  |               | 101,500        |              |             |        | 1,634,908              |  |              |   | 1,736,408  |  |  |   | 1,491,811  |  |  |  | (A        | )
|                                                                                                                                                              | Bristol,
          VA                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Filmore
          I                                                                                                                                           |                                                  |       | 32     |      |             |      | 1,170,129  |        |  |               | 115,000        |              |             |        | 1,312,495              |  |              |   | 1,427,495  |  |  |   | 840,888    |  |  |  | (A        | )
|                                                                                                                                                              | Phoenix,
          AZ                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Grant-Ko
          Enterprises                                                                                                                                |                                                  |       | 40     |      |             |      | 1,221,628  |        |  |               | 100,000        |              |             |        | 1,488,400              |  |              |   | 1,588,400  |  |  |   | 885,577    |  |  |  | (A        | )
|                                                                                                                                                              | Platteville,
          WS                        |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Hummelstown
          Manor                                                                                                                                   |                                                  |       | 51     |      |             |      | 1,727,491  |        |  |               | 96,839         |              |             |        | 1,759,462              |  |              |   | 1,856,301  |  |  |   | 1,712,269  |  |  |  | 1983      |  
|                                                                                                                                                              | Hummelstown,
          PA                        |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Kentucky
          Manor                                                                                                                                      |                                                  |       | 48     |      |             |      | 1,382,125  |        |  |               | 101,396        |              |             |        | 1,478,214              |  |              |   | 1,579,610  |  |  |   | 1,136,360  |  |  |  | (A        | )
|                                                                                                                                                              | Oak Grove,
          KY                          |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Lonsdale
          Housing                                                                                                                                    |                                                  |       | 131    |      |             |      | 2,031,411  |        |  |               | 214,833        |              |             |        | 6,252,704              |  |              |   | 6,467,537  |  |  |   | 4,989,639  |  |  |  | (A        | )
|                                                                                                                                                              | Providence,
          RI                         |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|New-Bel-Mo
          Enterprises                                                                                                                              |                                                  |       | 34     |      |             |      | 953,657    |        |  |               | 78,078         |              |             |        | 1,177,695              |  |              |   | 1,255,773  |  |  |   | 706,355    |  |  |  | (A        | )
|                                                                                                                                                              | New Glarus,
          Belleville, Monticello, WS |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Oakridge
          Apts                                                                                                                                       |                                                  |       | 48     |      |             |      | 1,193,639  |        |  |               | 55,000         |              |             |        | 1,543,170              |  |              |   | 1,598,170  |  |  |   | 1,408,353  |  |  |  | (A        | )
|                                                                                                                                                              | Biloxi,
          MS                             |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Oakwood                                                                                                                                                       |                                                  |       | 34     |      |             |      | 579,517    |        |  |               | 61,358         |              |             |        | 875,982                |  |              |   | 937,340    |  |  |   | 376,092    |  |  |  | (A        | )
|                                                                                                                                                              | Milan,
          TN                              |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Park Place                                                                                                                                                    |                                                  |       | 126    |      |             |      | 5,091,046  |        |  |               | 336,918        |              |             |        | 7,517,638              |  |              |   | 7,854,556  |  |  |   | 3,497,794  |  |  |  | 1983-1984 |  
|                                                                                                                                                              | Ewing,
          NJ                              |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Parkesedge
          Elderly Apts                                                                                                                             |                                                  |       | 45     |      |             |      | 1,442,117  |        |  |               | 160,000        |              |             |        | 2,024,161              |  |              |   | 2,184,161  |  |  |   | 978,876    |  |  |  | (A        | )
|                                                                                                                                                              | Parkesedge,
          PA                         |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Penneco
          II                                                                                                                                          |                                                  |       | 76     |      |             |      | 0          |        |  |               | 79,627         |              |             |        | 2,980,044              |  |              |   | 3,059,671  |  |  |   | 1,835,260  |  |  |  | (A        | )
|                                                                                                                                                              | Johnstown,
          PA                          |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Sauk-Ko
          Enterprises                                                                                                                                 |                                                  |       | 30     |      |             |      | 735,893    |        |  |               | 60,000         |              |             |        | 1,189,030              |  |              |   | 1,249,030  |  |  |   | 709,079    |  |  |  | (A        | )
|                                                                                                                                                              | Baraboo,
          WS                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|SOL -
          413                                                                                                                                           |                                                  |       | 12     |      |             |      | 351,778    |        |  |               | 50,000         |              |             |        | 425,819                |  |              |   | 475,819    |  |  |   | 258,011    |  |  |  | (A        | )
|                                                                                                                                                              | Old San
          Juan, PR                       |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Valley
          Oaks Senior                                                                                                                                  |                                                  |       | 50     |      |             |      | 1,771,000  |        |  |               | 121,464        |              |             |        | 1,928,899              |  |              |   | 2,050,363  |  |  |   | 1,340,415  |  |  |  | (A        | )
|                                                                                                                                                              | Galt,
          CA                               |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Villas
          de Orocovix                                                                                                                                  |                                                  |       | 41     |      |             |      | 1,394,805  |        |  |               | 59,550         |              |             |        | 1,934,627              |  |              |   | 1,994,177  |  |  |   | 1,153,256  |  |  |  | (A        | )
|                                                                                                                                                              | Orocovix,
          PR                           |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Cassidy
          Village                                                                                                                                     |                                                  |       | 98     |      |             |      | 915,946    |        |  |               | 156,850        |              |             |        | 2,056,616              |  |              |   | 2,213,466  |  |  |   | 1,191,963  |  |  |  | (A        | )
|                                                                                                                                                              | Columbus,
          OH                           |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Marshall
          Plaza I                                                                                                                                    |                                                  |       | 40     |      |             |      | 156,650    |        |  |               | 68,414         |              |             |        | 709,014                |  |              |   | 777,428    |  |  |   | 411,625    |  |  |  | (A        | )
|                                                                                                                                                              | Loraine,
          OH                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Marshall
          Plaza II                                                                                                                                   |                                                  |       | 50     |      |             |      | 224,849    |        |  |               | 78,901         |              |             |        | 922,316                |  |              |   | 1,001,217  |  |  |   | 535,507    |  |  |  | (A        | )
|                                                                                                                                                              | Loraine,
          OH                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Paula
          Maria I                                                                                                                                       |                                                  |       | 120    |      |             |      | 896,716    |        |  |               | 215,730        |              |             |        | 2,865,588              |  |              |   | 3,081,318  |  |  |   | 2,005,621  |  |  |  | (A        | )
|                                                                                                                                                              | Hampton,
          VA                            |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |   | 
|Additional
          basis of real estate due to REAL VIs capital contribution to
          limited partnership not recorded by investee limited partnership |                                                  |       |        |      |             |      |            |        |  |               | 8,971          |              |             |        | 160,708                |  |              |   | 169,679    |  |  |   | 169,680    |  |  |  |           |  
|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |  
|                                                                                                                                                              |                                                  |       | 1,369  |      |             | $    | 30,086,563 |        |  | $             | 2,627,655      |              |             | $      | 49,595,098             |  |              | $ | 52,222,753 |  |  | $ | 31,739,815 |  |  |  |           |  
|                                                                                                                                                              |                                                  |       |        |      |             |      |            |        |  |               |                |              |             |        |                        |  |              |   |            |  |  |   |            |  |  |  |           |  



---

|(A) |  | This project was completed when REAL VI entered the Partnership.
|--- |  | ----------------------------------------------------------------





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##### Table of Contents



SCHEDULE III
(Continued)

REAL ESTATE ASSOCIATES LIMITED VI
REAL ESTATE AND ACCUMULATED DEPRECIATION OF PROPERTY
HELD BY LOCAL LIMITED PARTNERSHIPS
IN WHICH REAL VI HAS INVESTMENTS
DECEMBER 31, 2001

|                             |  |             |            | 
|---------------------------- |  | ----------- | ---------- | 
|                             |  | Buildings, 
|                             |  | Furnishings
|                             |  | And        
|                             |  | Equipment  
|                             |  |            
|Accumulated Depreciation:    |  |             |            | 
|Balance at January 1, 1999   |  | $           | 26,992,955 | 
|Net additions for 1999       |  |             | 1,578,144  | 
|                             |  |             |            | 
|Balance at December 31, 1999 |  |             | 28,571,099 | 
|Net additions for 2000       |  |             | 1,552,311  | 
|                             |  |             |            | 
|Balance at December 31, 2000 |  |             | 30,123,410 | 
|Net additions for 2001       |  |             | 1,616,405  | 
|                             |  |             |            | 
|Balance at December 31, 2001 |  | $           | 31,739,815 | 
|                             |  |             |            | 





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##### Table of Contents






PART III.




ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Real Estate Associates Limited VI(the Partnership) has no directors or
executive officers of its own.

Prior to December 30, 1998, NAPICO was a wholly owned subsidiary of Casden
Investment Corporation (CIC), which is wholly owned by Alan I. Casden. On
December 30, 1998, Casden Properties Operating Partnership, L.P., (the
Operating Partnership) a majority owned subsidiary of Casden Properties Inc.,
a real estate investment trust organized by Alan I. Casden, purchased a 95.25%
economic interest in NAPICO. On March 11, 2002, NAPICO became a wholly owned
subsidiary of Apartment Investment and Management Company. The following
biographical information is presented for the directors and executive officers
of NAPICO with principal responsibility for the Partnerships affairs.

Charles H. Boxenbaum,72, Chairman of the Board of Directors and Chief
Executive Officer of NAPICO.

Mr. Boxenbaum has been associated with NAPICO since its inception. He has been
active in the real estate industry since 1960, and prior to joining NAPICO was
a real estate broker with the Beverly Hills firm of Carl Rhodes Company. Mr.
Boxenbaum has been a member of the Board of Directors of Casden Properties Inc.
since 1998.

Mr. Boxenbaum has been a guest lecturer at national and state realty
conventions, certified properties exchangers seminars, Los Angeles Town Hall,
National Association of Home Builders, International Council of Shopping
Centers, Society of Conventional Appraisers, California Real Estate
Association, National Institute of Real Estate Brokers, Appraisal Institute,
various mortgage banking seminars, and the North American Property Forum held
in London, England. He is one of the founders and a past director of the First
Los Angeles Bank, organized in November 1974. Since March 1995, Mr. Boxenbaum
has served on the Board of Directors of the National Housing Council. Mr.
Boxenbaum received his Bachelor of Arts degree from the University of Chicago.

Bruce E. Nelson,50, President, Chief Operating Officer and a director of
NAPICO.

Mr. Nelson joined NAPICO in 1980 and became President in February 1989. He is
responsible for the operations of all NAPICO sponsored limited partnerships.
Prior to that he was primarily responsible for the securities aspects of the
publicly offered real estate investment programs. Mr. Nelson is also involved
in the identification, analysis, and negotiation of real estate investments.
Mr. Nelson is a member of the Board of Directors of Casden Properties Inc. and
is a Director of the Affordable Housing Tax Credit Coalition.

From February 1979 to October 1980, Mr. Nelson held the position of Associate
General Counsel at Western Consulting Group, Inc., private residential and
commercial real estate syndicators. Prior to that time, Mr. Nelson was engaged
in the private practice of law in Los Angeles. Mr. Nelson received his
Bachelor of Arts degree from the University of Wisconsin and is a graduate of
the University of Colorado School of Law. He is a member of the State Bar of
California and is a licensed real estate broker in California and Texas.

Alan I. Casden,56, Chairman of the Board of Directors and Chief Executive
Officer of Casden Properties Inc., a director and member of the audit committee
of NAPICO, and chairman of the Executive Committee of NAPICO.

Mr. Casden has been involved in approximately $3 billion of real estate
financings and sales and has been responsible for the development and
construction of more than 12,000 apartment units and 5,000 single-family homes
and condominiums.





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##### Table of Contents



Mr. Casden is a member of the American Institute of Certified Public
Accountants and of the California Society of Certified Public Accountants. Mr.
Casden is a member of the advisory board of the National Multi-Family Housing
Conference, the Multi-Family Housing Council, the Presidents Council of the
California Building Industry Association and the Urban Land Institute. He also
serves on the Board of Trustees of the University of Southern California. He
holds a Bachelor of Science degree and a Masters in Business Administration
degree from the University of Southern California.

Brian H. Shuman, 39, Senior Vice President and Chief Financial Officer.

Mr. Shuman joined NAPICO in 2000, and is responsible for the financial affairs
of NAPICO, as well as the limited partnerships sponsored by it. From 1996
until joining NAPICO in August 2000, Mr. Shuman was Vice President  Finance
for Preferred Health Management Inc., the largest provider of worker
compensation diagnostic imaging services in California formed in 1996, and was
responsible for establishing and managing the accounting, billing, collection ,
treasury and financial reporting departments. From 1994 to 1996, he was the
Controller for DVI Business Credit Corporation, which provides asset based
lending to a wide range of health concerns. From 1985 to 1994, Mr. Shuman
served in senior management positions, as a director or manager of finance, a
portfolio tax analyst, and a senior accountant/tax consultant. He holds a
Bachelor of Arts degree in economics and accounting from the University of
Maryland. Mr. Shuman is a Certified Public Accountant and is a member of
American Institute of Certified Public Accountants and the California Society
of Public Accountants.

Patricia W. Toy,72, Senior Vice President  Communications and Assistant
Secretary.

Mrs. Toy joined NAPICO in 1977, following her receipt of an MBA from the
Graduate School of Management, UCLA. From 1952 to 1956, Mrs. Toy served as a
U.S. Naval Officer in communications and personnel assignments. She holds a
Bachelor of Arts Degree from the University of Nebraska.

Jeffrey H. Sussman,35, Senior Vice President, General Counsel and Secretary.

Mr. Sussman joined NAPICO in 1998, and is responsible for the legal affairs of
NAPICO and its affiliates. He is also the President of NPEI and a member of the
preliminary investment committee. Prior to joining NAPICO in April 1998, Mr.
Sussman was an associate with the law firm of Rus, Miliband, Williams & Smith
in Irvine, California. His practice emphasized real estate finance and
insolvency law and included the representation of borrowers, lenders, and
court-appointed trustees in matters involving apartment complexes, retail
centers and hotels. Mr. Sussman received a Bachelor of Arts degree from the
University of California, Berkeley and Juris Doctor and Master in Business
Administration degrees from the University of Southern California. He is a
member of the State Bar of California, and holds Series 22, 39 and 63 licenses
issued by the National Association of Securities Dealers, Inc.

NAPICO and several of its officers, directors and affiliates, including Charles
H. Boxenbaum, Bruce E. Nelson and Alan I. Casden, consented to the entry, on
June 25, 1997, of an administrative cease and desist order by the U.S.
Securities and Exchange Commission (the Commission), without admitting or
denying any of the findings made by the Commission. The Commission found that
NAPICO and others had violated certain federal securities laws in connection
with transactions unrelated to the Partnership. The Commissions order did not
impose any cost, burden or penalty on any partnership managed by NAPICO and
does not impact NAPICOs ability to serve as the Partnerships Managing General
Partner.




ITEM 11. MANAGEMENT REMUNERATION AND TRANSACTIONS

Real Estate Associates Limited VI has no officers, employees, or directors.
However, under the terms of the Restated Certificate and Agreement of Limited
Partnership, the Partnership is obligated to pay the Corporate





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General Partner
an annual management fee. The annual management fee is approximately equal to
     .5 percent of the invested assets, including the Partnerships allocable share
of the mortgages related to real estate properties held by local limited
partnerships. The fee is earned beginning in the month the Partnership makes
its initial contribution to the local partnership. In addition, the Partnership
reimburses the Corporate General Partner for certain expenses.

An affiliate of the Corporate General Partner is responsible for the on-site
property management for certain properties owned by the limited partnerships in
which the Partnership has invested.




ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT



|(a) |  | Security Ownership of Certain Beneficial Owners
|--- |  | -----------------------------------------------

| |                                                                                                                                                                                                   
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The general partners own all of the outstanding general partnership
interests of REAL VI; no person is known to own beneficially in excess
of 5% of the outstanding limited partnership interests.



|(b) |  | With the exception of the initial limited partner, Bruce Nelson, who is
an officer of the corporate general partner, none of the officers or
directors of the corporate general partner own directly or beneficially
any limited partnership interests in REAL VI.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The Partnership has no officers, directors or employees of its own. All of its
affairs are managed by the Corporate General Partner, National Partnership
Investments Corp. (NAPICO). The Partnership is obligated to NAPICO for an
annual management fee equal to .4 percent of the original remaining invested
assets of the limited partnerships. Invested assets is defined as the costs of
acquiring project interests, including the proportionate amount of the mortgage
loans related to the Partnerships interest in the capital accounts of the
respective partnerships. Management fees were $206,433 for the years ended
December 31, 2001, 2000 and 1999.

The Partnership reimburses NAPICO for certain expenses. The reimbursement to
NAPICO was $22,740, $20,424 and $41,364 in 2001, 2000 and 1999, respectively,
and is included in operating expenses.

An affiliate of NAPICO is the general partner in 6 of the limited partnerships
in which the partnership has an investment, and another affiliate receives
property management fees of approximately 5 to 7 percent of revenue from 4 of
these partnerships. The affiliate received property management fees of
$108,835, $72,739 and $77,003 in 2001, 2000 and 1999, respectively.

On December 30, 1998, the Partnership sold its limited partnership interests in
10 local limited partnerships with a total carrying value of $3,878,886 and its
general partner interest in one local general partnership with a partner
deficit of $1,507,828 to the Operating Partnership. The sale resulted in net
proceeds to the Partnership of a $1,397,081 and a net gain of $7,497,969 after
being relieved of notes and interest payable of $8,712,920 and incurring
selling expenses of $240,994. In March 1999, the Partnership made cash
distributions of $2,769,110 to the limited partners and $27,971 to the general
partners, which included using proceeds from the sale of the partnership
interests.

The Operating Partnership purchased such limited partner interests for cash,
which it raised in connection with a private placement of its equity
securities. The purchase was subject to, among other things, (i) the purchase
of the general partner interests in the local limited partnerships by the
Operating Partnership; (ii) the approval of HUD and certain state housing
finance agencies; and (iii) the consent of the limited partners to the sale of
the local limited partnership interests held for investment by the Partnership.





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In August 1998, a consent solicitation statement was sent to the limited
partners setting forth the terms and conditions of the purchase of the limited
partners interests held for investment by the Partnership, together with
certain amendments to the Partnership Agreement and other disclosures of
various conflicts of interest in connection with the proposed transaction.
Prior to the sale of the partnership interests, the consents of the limited
partners to the sale and amendments to the Partnership Agreement were obtained.




ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K:

Financial Statements

Report of Independent Public Accountants.

Consolidated Balance Sheets as of December 31, 2001 and 2000.

Consolidated Statements of Operations for the years ended December 31, 2001,
2000 and 1999.

Consolidated Statements of Partners Equity (Deficiency) for the years ended
December 31, 2001, 2000 and 1999.

Consolidated Statements of Cash Flows for the years ended December 31, 2001,
2000 and 1999.

Notes to Consolidated Financial Statements.

Financial Statement Schedules

Applicable to Real Estate Associates Limited VI Real Estate III and the Limited
Partnerships:

Schedule  Investments in Limited Partnerships, December 31, 2001, 2000 and
1999.

Schedule III  Real Estate and Accumulated Depreciation, December 31, 2001,
2000 and 1999.

The remaining schedules are omitted because any required information is
included in the financial statements and notes thereto.

Exhibits



|(3)  |  | Articles of incorporation and bylaws: The registrant is not
incorporated. The Partnership Agreement was filed with Form S-11 #2-82090
incorporated herein by reference.                                                                                                                                                                                                                                   
|---- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    
|(10) |  | Material contracts: The registrant is not party to any material
contracts, other than the Restated Certificate and Agreement of Limited
Partnership dated October 12, l982, and the forty contracts representing
the partnership investment in local limited and general partnerships as
previously filed at the Securities Exchange Commission, File #2-282090
which is hereby incorporated by reference.

Reports on Form 8-K

No reports on Form 8-K were filed during the year ended December 31, 2001.





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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized in the City of Los
Angeles, State of California.

REAL ESTATE ASSOCIATES LIMITED VI



|By: |  | NATIONAL PARTNERSHIP INVESTMENTS CORP.
General Partner
|--- |  | ------------------------------------------------------

/s/ Charles H. Boxenbaum




Charles H. Boxenbaum
Chairman of the Board of Directors
and Chief Executive Officer


/s/ Bruce E. Nelson




Bruce E. Nelson
Director and President


/s/ Alan I. Casden




Alan I. Casden
Director


/s/ Brian H. Shuman




Brian H. Shuman
Chief Financial Officer