UNITED
STATESSECURITIES AND
EXCHANGE COMMISSIONWashington, D.C.20549Form
10-Q  (Mark One) [X]   QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For
the quarterly period endedSeptember 30,
2008   [ ]   TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For
the transition period from __________ to __________Commission file number
0-13112REAL ESTATE ASSOCIATES
LIMITED VI(Exact name of
registrant as specified in its charter)  California
95-3778627(State or other
jurisdiction of
(I.R.S.
Employerincorporation or
organization)
(Identification No.)   55
Beattie Place, PO Box 1089Greenville, South Carolina 
29602(Address of principal
executive offices)(864)
239-1000(Registrants
telephone number, including area code)   Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for 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.  [X] Yes  [ ] No  Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company.  See the definitions
of large accelerated filer, accelerated filer and smaller reporting
company in Rule 12b-2 of the Exchange Act.  Large accelerated
filer [ ]
Accelerated filer [
]Non-accelerated filer
[ ]
(Do not check if a
smaller reporting company)
Smaller reporting
company [X]  Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act). [ ] Yes  [X] No


PART I - FINANCIAL
INFORMATION   ITEM
1.     FINANCIAL STATEMENTS   REAL ESTATE ASSOCIATES
LIMITED VICONSOLIDATED BALANCE
SHEETS(in
thousands)    September
30,
December
31,2008
2007(Unaudited)
(Restated)(Note)AssetsInvestments in and
advances to Local LimitedPartnerships
(Note 2)
$  
364
$  
364Cash and cash
equivalents
2,455
2,695Other
receivables
169
171Total
assets
$2,988
$3,230Liabilities and
Partners (Deficiency) CapitalLiabilities:Accounts
payable and accrued expenses
$    36
$    34Taxes
payable
116
140Due to
affiliate (Note 4)
418
391Notes payable,
in default (Note 3)
520
520Accrued
interest payable, in default (Note 3)
1,203
1,1662,293
2,251Partners' (Deficiency)
CapitalGeneral
partners
(345)
(342)Limited
partners
1,040
1,321695
979Total liabilities and
partners' (deficiency)capital
$2,988
$3,230  Note:  The consolidated
balance sheet at December 31, 2007 has been derived from the audited financial
statements at that date but does not include all the information and footnotes
required by generally accepted accounting principles for complete financial
statements.  See
Accompanying Notes to Consolidated Financial Statements


REAL
ESTATE ASSOCIATES LIMITED VI  CONSOLIDATED STATEMENTS OF
OPERATIONS (Unaudited) (in
thousands, except per interest data)    Three Months
Ended
Nine Months
EndedSeptember
30,
September
30,2008
2007
2008
2007(Restated)

(Restated)Revenues:Interest
income
$9
$25
$41
$77Operating
expenses:Management fees -
partners (Note 4)
35
37
105
111Legal and
accounting
16
14
45
45Tax
expense
23
17
85
72General and
administrative
5
8
18
24Interest (Note
3)
12
16
37
49Total operating
expenses
91
92
290
301Loss from partnership
operations
(82)
(67)
(249)
(224)Gain on extinguishment
of debt (Note 3)
--
8
--
8Distributions from
Local LimitedPartnerships
recognized asincome (Note
2)
5
325
5
338Advances to Local
Limited Partnershipsrecognized as
expense (Note 2)
--
(2)
(40)
(10)Equity in loss of
Local LimitedPartnerships
and amortization ofacquisition
costs (Note 2)
--
(58)
--
(80)Net (loss)
income
$(77)
$206
$(284)
$32Net (loss) income
allocated to generalpartners
(1%)
$   
(1)
$    
2
$   
(3)
$   
--Net (loss) income
allocated to limitedpartners
(99%)
(76)
204
(281)
32$(77)
$206
$(284)
$32Net (loss) income per
limitedpartnership interest (Note 1)
$(4.55)
$12.21
$(16.82)
$1.91  See
Accompanying Notes to Consolidated Financial Statements


REAL
ESTATE ASSOCIATES LIMITED VI  CONSOLIDATED STATEMENT OF
CHANGES IN PARTNERS' (DEFICIENCY) CAPITAL (Unaudited) (in
thousands, except interest data)     General
LimitedPartners
Partners
TotalPartnership interests
(A)

16,702Partners' (deficiency)
capital,December 31,
2007, as restated (Note 1)
$
(342)
$
1,321
$
  979Net loss for the nine
monthsended September
30, 2008
(3)
(281)
(284)Partners' (deficiency)
capital,September 30,
2008
$(345)
$1,040
$695  (A)   Consists of
16,702 limited partnership interests at September 30, 2008 and December 31,
2007.  See
Accompanying Notes to Consolidated Financial Statements


REAL ESTATE ASSOCIATES
LIMITED VI  CONSOLIDATED STATEMENTS OF
CASH FLOWS (Unaudited) (in
thousands)  Nine
Months EndedSeptember
30,2008
2007(Restated)Cash flows from operating
activities:Net (loss) income
$  
(284)
$  
 32Adjustments to reconcile net
(loss) income to netcash (used in)provided
byoperating
activities:Equity in loss of Local
Limited Partnerships andamortization of acquisition
costs
--
80Advances to Local Limited
Partnerships recognizedas
expense
40
10Gain on extinguishment of
debt
--
(8)Change in
accounts:Other
receivables
2
(1)Taxes payable
(24)
(16)Due to
affiliate
27
30Accounts payable and accrued
expenses
2
(20)Accrued interest
payable
37
49Net cash (used in) provided
by operatingactivities
(200)
156Cash flows from investing
activities:Advances to Local Limited
Partnerships
(40)
(32)Repayment of advance to
Local Limited Partnership
--
22Net cash used in investing
activities
(40)
(10)Net (decrease) increase in
cash and cash equivalents
(240)
146Cash and cash equivalents,
beginning of period
2,695
2,048Cash and cash equivalents,
end of period
$2,455
$2,194  See
Accompanying Notes to Consolidated Financial Statements


REAL
ESTATE ASSOCIATES LIMITED VI  NOTES
TOCONSOLIDATEDFINANCIAL
STATEMENTS (Unaudited)  NOTE 1 - ORGANIZATION AND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  General  The information contained in
the following notes to the unaudited consolidated financial statements is
condensed from that which would appear in the audited annual consolidated
financial statements; accordingly, the consolidated financial statements
included herein should be reviewed in conjunction with the consolidated
financial statements and related notes thereto contained in the annual report
for the fiscal year ended December 31, 2007 prepared by Real Estate Associates
Limited VI (the "Partnership" or "Registrant"). Accounting measurements at
interim dates inherently involve greater reliance on estimates than at year end.
The results of operations for the interim periods presented are not necessarily
indicative of the results for the entire year.  In the opinion of the
Partnerships management, the accompanying unaudited consolidated financial
statements contain all adjustments (consisting primarily of normal recurring
accruals) necessary to present fairly the consolidated financial position of the
Partnership at September 30, 2008 and the consolidated results of operations and
changes in cash flows for the nine months ended September 30, 2008 and
2007.  The general partners
collectively have a one percent interest in profits and losses of the
Partnership. The limited partners have the remaining 99 percent interest which
is allocated in proportion to their respective individual investments. The
general partners of the Partnership are National Partnership Investments Corp.
("NAPICO or the "Corporate General Partner") and National Partnership
Investment Associates.  The Corporate General Partner is a subsidiary of
Apartment Investment and Management Company (AIMCO), a publicly traded real
estate investment trust.  Basis
of Presentation  The accompanying unaudited
consolidated financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of
America.  The Partnership amended its
Form 10-KSB for the year ended December 31, 2007 and its Form 10-Q for the
quarterly periods ended March 31, 2008 and June 30, 2008 to adjust for an
understatement of the Partnerships management fee expense.  Because of the
error noted above, the consolidated balance sheet as of December 31, 2007,
including the partners capital, and the statements of operations for the three
and nine months ended September 30, 2007, have been restated to reflect the
correction of this error.  Principles of
Consolidation  The consolidated financial
statements include the accounts of Real Estate Associates Limited VI and its
majority-owned general partnership.  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.  Method of Accounting for
Investments in Local Limited Partnerships  The investments in
unconsolidated local limited partnerships (the Local Limited Partnerships) are
accounted for using the equity method. Acquisition, selection fees and other
costs related to the acquisition of the Local Limited Partnerships have been
capitalized as part of the investment account and are being amortized by the
straight line method over the estimated lives of the underlying assets, which is
generally 30 years.  Net (Loss) Income Per
Limited Partnership Interest  Net (loss) income per
limited partnership interest was computed by dividing the limited partners
share of net (loss) income by the number of limited partnership interests
outstanding at the beginning of the year. The number of limited partnership
interests was 16,702 and 16,714 as of January 1, 2008 and 2007,
respectively.  FASB
Interpretation No. 46  As of December 31, 2004, the
Partnership adopted FASB Interpretation No. 46, Consolidation of Variable
Interest Entities (or FIN 46), and applied its requirements to all Local
Limited Partnerships in which the Partnership held a variable interest. 
FIN 46 addresses the consolidation by business enterprises of variable interest
entities.  Generally, a variable interest entity, or VIE, is an entity with
one or more of the following characteristics:  (a) the total equity
investment at risk is not sufficient to permit the entity to finance its
activities without additional subordinated financial support; (b) as a group the
holders of the equity investment at risk lack (i) the ability to make decisions
about an entitys activities through voting or similar rights, (ii) the
obligation to absorb the expected losses of the entity, or (iii) the right to
receive the expected residual returns of the entity; or (c) the equity investors
have voting rights that are not proportional to their economic interests and
substantially all of the entitys activities either involve, or are conducted on
behalf of, an investor that has disproportionately few voting rights.  FIN
46 requires a VIE to be consolidated in the financial statements of the entity
that is determined to be the primary beneficiary of the VIE.  At September 30, 2008 and
December 31, 2007, the Partnership holds variable interests in 15 VIEs for which
the Partnership is not the primary beneficiary.  The 15 VIEs consist of
Local Limited Partnerships in which the Partnership acquired an interest prior
to the adoption of FIN 46 that are directly engaged in the ownership and
management of 15 apartment properties with a total of 750 units.  The
Partnership is involved with those VIEs as a non-controlling limited partner
equity holder.  The Partnerships maximum exposure to loss as a result of
its involvement with the unconsolidated VIEs is limited to the Partnerships
recorded investments in and receivables from these VIEs, which was approximately
$364,000 at both September 30, 2008 and December 31, 2007.  The Partnership
may be subject to additional losses to the extent of any financial support that
the Partnership voluntarily provides in the future.  NOTE 2 - INVESTMENTS IN AND
ADVANCES TO LOCAL LIMITED PARTNERSHIPS  As
of September 30, 2008 and December 31, 2007, the Partnership holds limited
partnership interests in 13 Local Limited Partnerships. In addition, the
Partnership holds a majority-owned general partner interest in Real Estate
Associates III (REA III) which, in turn, holds limited partnership interests
in two additional Local Limited Partnerships. In total, therefore, the
Partnership holds interests, either directly or indirectly through REA III, in
15 Local Limited Partnerships which owned, as of September 30, 2008 and December
31, 2007, residential low income rental projects consisting of 750 apartment
units. Certain of the Local Limited Partnerships are encumbered by mortgage
notes payable to or insured by agencies of the federal or local government.  The
Partnership, as a limited partner, does not have a contractual relationship with
the Local Limited Partnerships or exercise control over the activities and
operations, including refinancing or selling decisions, of the Local Limited
Partnerships that would require or allow for consolidation. Accordingly, the
Partnership accounts for its investments in the Local Limited Partnerships using
the equity method. The Partnership is allocated profits and losses of the Local
Limited Partnerships based upon its respective ownership percentages between 90%
and 99%. The Partnership is also entitled to 99.9% of the profits and losses of
REA III. REA III is entitled to a 99% interest in each of the Local Limited
Partnerships in which it has invested. Distributions of surplus cash from operations from most of the Local Limited
Partnerships are restricted by the Local Limited Partnerships Regulatory
Agreements with the United States Department of Housing and Urban Development
(HUD). These restrictions limit the distribution to a portion, generally less
than 10% of the initial invested capital. The excess surplus cash is deposited
into a residual receipts reserve, of which the ultimate realization by the
Partnership is uncertain as HUD frequently retains it upon sale or dissolution
of the Local Limited Partnership. The Partnership is allocated profits and
losses and receives distributions from refinancings and sales in accordance with
the Local Limited Partnerships partnership agreements. These agreements usually
limit the Partnerships distributions to an amount substantially less than its
ownership percentage in the Local Limited Partnership.  The
individual investments are carried at cost plus the Partnerships share of the
Local Limited Partnerships profits less the Partnerships share of the Local
Limited Partnerships losses, distributions and impairment charges. The
Partnership is not legally liable for the obligations of the Local Limited
Partnerships and is not otherwise committed to provide additional support to
them. Therefore, it does not recognize losses once its investment in each of the
Local Limited Partnerships reaches zero. Distributions from the Local Limited
Partnerships are accounted for as a reduction of the investment balance until
the investment balance is reduced to zero. When the investment balance has been
reduced to zero, subsequent distributions received are recognized as income in
the accompanying consolidated statements of operations.  The Partnership
received approximately $5,000 and $19,000 in operating distributions from Local
Limited Partnerships during the nine months ended September 30, 2008 and 2007,
respectively, which was recognized as income.  For those investments where
the Partnership has determined that the carrying value of its investments
approximates the estimated fair value of those investments, the Partnerships
policy is to recognize equity in income of the Local Limited Partnerships only
to the extent of distributions received and amortization of acquisition costs
from those Local Limited Partnerships.  Therefore, the Partnership limits
its recognition of equity earnings to the amount it expects to ultimately
realize.  As of September 30, 2008 and
December 31, 2007, the investment balance in 13 of the 15 Local Limited
Partnerships had been reduced to zero. The Partnership still has an investment
balance in Cassady Village Apartments, Ltd. (Cassady Village) and Park Place
Limited Partnership.  At times, advances are made
to the Local Limited Partnerships. Advances made by the Partnership to the
individual Local Limited Partnerships are considered part of the Partnerships
investment in the Local Limited Partnership. Advances made to Local Limited
Partnerships for which the investment has been reduced to zero are charged to
expense. During the nine months ended September 30, 2008 and 2007, approximately
$40,000 and $32,000 was advanced to the Local Limited Partnerships,
approximately $40,000 and $10,000, respectively, of which was recognized as
expense on the accompanying consolidated statements of operations.  On August 6, 2007, a Local
Limited Partnership, SOL 413, sold its investment property, consisting of 12
units, for a sales price of approximately $732,000. After payment of closing
costs, repayment of the mortgage encumbering SOL 413s investment property, and
payment of other liabilities associated with SOL 413s investment property,
including advances of approximately $22,000 from the Partnership, the total
proceeds to the Partnership were approximately $328,000, approximately $319,000
of which was received during the nine months ended September 30, 2007 and
included in distributions from Local Limited Partnerships recognized as income
for the nine months ended September 30, 2007. In addition, the Partnership
recognized a gain on the extinguishment of debt due to the write off of the
remaining capital contribution payable of approximately $8,000 (see Note 3).
During the nine months ended September 30, 2008, the Partnership agreed to
advance SOL 413 approximately $37,000 for costs associated with the Local
Limited Partnerships Puerto Rico tax liability and the Local Limited
Partnerships tax return. This amount is included in advances to Local Limited
Partnerships recognized as expense for the nine months
ended September 30, 2008. The Partnership had no remaining investment balance in
SOL 413 at September 30, 2008 and December 31, 2007.  During
2006, the Local Operating General Partner of one of the Local Limited
Partnerships, Cady Brook Apartments, entered into a purchase and sale contract
with a third party to sell the investment property for a sales price of
approximately $970,000. The sale is subject to due diligence, and there can be
no certainty regarding the
timing of such sale or if a sale will even occur.  The Local Operating
General Partner of Cady Brook Apartments and the purchaser are currently
negotiating items identified during the due diligence process, including an
adjustment to the sales price to cover the additional debt from the USDA that
the Partnership plans to incur to cover immediate capital improvements needed at
the property. The proposed new purchase price is $1,570,000.  The Corporate
General Partner currently estimates the sale, if it occurs, will result in
proceeds to the Partnership, however the amount of proceeds is not determinable
at this time.  The Partnership has no remaining investment balance in Cady
Brook Apartments at September 30, 2008 and December 31, 2007.  The following is a summary
of the investments in Local Limited Partnerships for the nine months ended
September 30, 2008(in thousands):  Balance, beginning of
period
$ 
364Equity in income of
Local Limited Partnerships
10Advances to Local
Limited Partnerships
40Advances to Local
Limited Partnershipsrecognized as
expense
(40)Amortization of
acquisition costs
(10)Balance, end of
period
$364  The following are unaudited
combined estimated statements of operations for the three and nine months ended
September 30, 2008 and 2007 of Local Limited Partnerships in which the
Partnership has invested (in thousands):  Three Months
Ended
Nine Months
EndedSeptember
30,
September
30,2008
2007
2008
2007(Restated)

(Restated)RevenuesRental and
other
$1,111
$1,166
$3,475
$3,389ExpensesOperating
expenses
697
751
2,178
2,311Financial
expenses
236
236
707
703Depreciation
and amortizationexpenses
158
171
476
5111,091
1,158
3,361
3,525Income (loss) from
continuingoperations
$20
$8
$114
$(136)  The combined results of
operations for the three and nine months ended September 30, 2007 have been
restated to exclude the operations of Cady Brook Apartments, which is held for
sale at September 30, 2008, and Valley Oaks, for which no financial information
is available. In addition, the combined results of operations for the three and
nine months ended September 30, 2008 and 2007 exclude the operations of
Eastridge Apartments and SOL 413 due to their sales in 2007, and Kentucky Manor,
for which no financial information is available.  In
addition to being the Corporate General Partner, NAPICO, or one of its
affiliates, is the general partner for five Local Limited
Partnerships.  The current policy of the
United States Department of Housing and Urban Development (HUD) is to not
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
current 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 not 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
current 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 rate 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.  NOTE 3 - NOTES PAYABLE AND
AMOUNTS DUE FOR PARTNERSHIP INTERESTS  The Partnership is obligated
on non-recourse notes payable of $520,000 which bear interest at 9.5 percent per
annum and have principal maturities of December 1999. 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 investment in one Local Limited Partnership. Unpaid
interest is due at maturity of the notes. The notes payable and related accrued
interest aggregating approximately $1,723,000 and $1,686,000 at September 30,
2008 and December 31, 2007, respectively, relating to Cassady Village became
payable prior to September 30, 2008 and are currently in default. During 2005,
the Partnership entered into an agreement with the non-recourse note holder for
Cassady Village to permit the holder to purchase a series of projects including
the properties owned by the Local Limited Partnerships Cassady Village and
Marshall Plaza I & II Apartments.  Pending the decision to purchase one
of the above properties and enter into a purchase agreement, the note holder
agreed to forebear taking any action under the note for such period.  The
Partnerships investment balance in Cassady Village at both September 30, 2008
and December 31, 2007 was approximately $80,000.  The Partnerships
investment balance in Marshall Plaza I & II at both September 30, 2008 and
December 31, 2007 was zero.  One of the Partnerships
investments involved a purchase of partnership interests from partners who
subsequently withdrew from the partnership. The purchase of this interest
provided for an additional cash payment of approximately $8,000 based upon
specific events as outlined in the purchase agreement. In connection with the
sale of SOL 413 during 2007, this amount was written off and recognized as a
gain on extinguishment of debt for the three and nine months ended September 30,
2007.


NOTE 4 - TRANSACTIONS WITH
AFFILIATED PARTIES  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 0.5 percent of the
original invested assets of the Local Limited Partnerships at the beginning of
the year.  Invested assets are 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 Local
Limited Partnerships. The fee was approximately $105,000 and $111,000 for the
nine months ended September 30, 2008 and 2007, respectively.  In addition to being the
Corporate General Partner, NAPICO, or one of its affiliates, is the general
partner for five Local Limited Partnerships.  NOTE 5 -
CONTINGENCIES  The
Corporate General Partner is involved in various 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.


ITEM
2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS  The Private Securities
Litigation Reform Act of 1995 provides a safe harbor for forward-looking
statements in certain circumstances. Certain information included in this Report
contains or may contain information that is forward-looking, including, without
limitation, statements regarding the Partnerships future financial performance
and the effect of government regulations. Actual results may differ materially
from those described in the forward-looking statements and,
in addition, will be affected by a variety of risks and factors that are beyond
the Partnerships control including, without limitation: national and local
economic conditions; the general level of interest rates; the terms of
governmental regulations that affect the Partnership and its investment in
limited partnerships and interpretations of those regulations; the competitive
environment in which the Partnership operates; financing risks, including the
risk that the Partnerships cash flows from operations may be insufficient to
meet required payments of principal and interest; real estate risks, including
fluctuations in real estate values and the general economic
climate in local markets and competition for tenants in such
markets;litigation, including costs associated with
prosecuting or defending claims and any adverse outcomes; and possible
environmental liabilities, including costs, fines or penalties that may be
incurred due to necessary remediation of contamination of properties presently
owned or previously owned by the limited partnerships in which the Partnership
has invested.  Readers should carefully review the Partnerships
consolidated financial statements and the notes thereto and the other documents
the Partnership files from time to time with the Securities and Exchange
Commission.  The Corporate General
Partner monitors developments in the area of legal and regulatory
compliance.  Liquidity and Capital
Resources  The properties in which the
Partnership has invested, through its investments in the Local Limited
Partnerships, receive one or more forms of assistance from the Federal
Government.  As a result, the Local Limited Partnerships ability to
transfer funds either to the Partnership or among themselves in the form of cash
distributions, loans or advances is generally restricted by these government
assistance programs. These restrictions, however, are not expected to impact the
Partnerships ability to meet its cash obligations.  The Partnership's primary
sources of funds include interest income earned from investing available cash
and distributions from Local Limited Partnerships in which the Partnership has
invested. It is not expected that any of the Local Limited 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. An
infrequent source of funds is from the sale of a Local Limited Partnership
property or the sale of the Partnerships interest in a Local Limited
Partnership. No distributions to partners were made during the nine months ended
September 30, 2008 and 2007.  Distributions received from
Local Limited Partnerships are recognized as a reduction of the investment
balance until the investment balance has been reduced to zero. Subsequent
distributions received are recognized as income.  For the nine months ended
September 30, 2008 and 2007, the Partnership received approximately $5,000 and
$19,000, respectively, in operating distributions from Local Limited
Partnerships which was recognized as income.  On August 6, 2007, a Local
Limited Partnership, SOL 413, sold its investment property, consisting of 12
units, for a sales price of approximately $732,000. After payment of closing
costs, repayment of the mortgage encumbering SOL 413s investment property, and
payment of other liabilities associated with SOL 413s investment property,
including advances of approximately $22,000 from the Partnership, the total
proceeds to the Partnership were approximately $328,000, approximately $319,000
of which was received during the nine months ended September 30, 2007 and
included in distributions from Local Limited Partnerships recognized as income
for the nine months ended September 30, 2007.  During the nine months ended
September 30, 2008, the Partnership agreed to advance SOL
413 approximately $37,000 for costs associated with the Local Limited
Partnerships Puerto Rico tax liability and the Local Limited Partnerships tax
return. This amount is included in advances to Local Limited Partnerships
recognized as expense for the nine months ended September 30, 2008. The
Partnership had no remaining investment balance in SOL 413 at September 30, 2008
and December 31, 2007.  During
2006, the Local Operating General Partner of one of the Local Limited
Partnerships, Cady Brook Apartments, entered into a purchase and sale contract
with a third party to sell the investment property for a sales price of
approximately $970,000. The sale is subject to due diligence, and there can be
no certainty regarding the timing of such sale or if a sale will even occur.
 The Local Operating General Partner of Cady Brook Apartments and the
purchaser are currently negotiating items identified during the due diligence
process, including an adjustment to the sales price to cover the additional debt
from the USDA that the Partnership plans to incur to cover immediate capital
improvements needed at the property. The proposed new purchase price is
$1,570,000.  The Corporate General Partner currently estimates the sale, if
it occurs, will result in proceeds to the Partnership, however the amount of
proceeds is not determinable at this time.  The Partnership has no
remaining investment balance in Cady Brook Apartments at September 30, 2008 and
December 31, 2007.  As of September 30, 2008 and
December 31, 2007, the Partnership had cash and cash equivalents of
approximately $2,455,000 and $2,695,000, respectively. All of this cash is on
deposit primarily with a financial institution, earning interest at market
rates. This resulted in the Partnership earning approximately $41,000 and
$77,000 in interest income for the nine months ended September 30, 2008 and
2007, respectively. The amount of interest income varies with market rates
available on deposits and with the amount of funds available for investment.
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.  The Partnership is obligated
on non-recourse notes payable of $520,000, which bear interest at 9.5 percent
per annum and have principal maturities of December 1999.  The notes and
related interest are payable from cash flow generated from operations of the
related rental property as defined in the notes. These obligations are
collateralized by the Partnerships investment in one Local Limited Partnership.
Unpaid interest is due at maturity of the notes. The notes payable and related
accrued interest aggregating approximately $1,723,000 and $1,686,000 at
September 30, 2008 and December 31, 2007, relating to Cassady Village
Apartments, Ltd. (Cassady Village), became payable prior to September 30, 2008
and are currently in default. During 2005, the Partnership entered into an
agreement with the non-recourse note holder for Cassady Village to permit the
holder to purchase a series of projects including the properties owned by the
Local Limited Partnerships Cassady Village and Marshall Plaza I & II
Apartments.  Pending the decision to purchase one of the above properties
and enter into a purchase agreement, the note holder agreed to forebear taking
any action under the note for such period.  The Partnerships investment
balance in Cassady Village at both September 30, 2008 and December 31, 2007 was
approximately $80,000.  The Partnerships investment balance in Marshall
Plaza I & II Apartments at both September 30, 2008 and December 31, 2007 was
zero.  Results of
Operations  At
September 30, 2008, the Partnership had investments in 13 Local Limited
Partnerships and a general partner interest in REA III which, in turn, holds
limited partnership interests in two additional Local Limited Partnerships, all
of which own housing projects, most of which were substantially rented. The
Partnership, as a limited partner, does not have a contractual relationship with
the Local Limited Partnerships or exercise control over the activities and
operations, including refinancing or selling decisions, of the Local Limited
Partnerships that would require or allow for consolidation.  Accordingly,
the Partnership accounts for its investment in the Local Limited Partnerships
using the equity method. Thus the individual investments are carried at cost
plus the Partnerships share of the Local Limited Partnerships profits less the
Partnerships share of the Local Limited Partnerships losses, distributions and
any impairment charges. However, since the Partnership is not legally liable for
the obligations of the Local Limited Partnerships, or is not otherwise committed
to provide additional support to them, it does not
recognize losses once its investment in each of the Local Limited Partnerships
reaches zero.  Distributions from the Local Limited Partnerships are
accounted for as a reduction of the investment balance until the investment
balance is reduced to zero.  Subsequent distributions received are
recognized as income in the consolidated statements of operations.  For
those investments where the Partnership has determined that the carrying value
of its investments approximates the estimated fair value of those investments,
the Partnerships policy is to recognize equity in income of the Local Limited
Partnerships only to the extent of distributions received and amortization of
acquisition costs from those Local Limited Partnerships.  The
investments in all but two of the Local Limited Partnerships have been reduced
to zero as of September 30, 2008. The Partnership still has an investment
balance in Cassady Village and Park Place Limited Partnerships.  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 0.5 percent of the
Partnership's original remaining invested assets at the beginning of the year.
The management fee is paid to the Corporate General Partner for its continuing
management of the Partnership affairs. Management fees were approximately
$105,000 and $111,000 for the nine months ended September 30, 2008 and 2007,
respectively.  Operating expenses, other
than management fees, consist of legal and accounting fees for services rendered
to the Partnership and general and administrative expenses. Legal and accounting
fees were approximately $45,000 for each of the nine months ended September 30,
2008 and 2007, and approximately $16,000 and $14,000 for the three months ended
September 30, 2008 and 2007, respectively.  General and administrative
expenses were approximately $18,000 and $24,000 for the nine months ended
September 30, 2008 and 2007, respectively, and approximately $5,000 and $8,000
for the three months ended September 30, 2008 and 2007, respectively. The
decrease in general and administrative expenses is primarily due to a decrease
in costs associated with the Partnerships quarterly and annual communications
with investors and regulatory agencies.  The Partnership incurs
expense for certain New Jersey state tax returns.  For the nine months
ended September 30, 2008 and 2007, the expense was approximately $85,000 and
$72,000, respectively, and approximately $23,000 and $17,000 for the three
months ended September 30, 2008 and 2007, respectively. The increase in tax
expense is primarily due to an increase in the rate charged by the taxing
authority.  Interest expense on
non-recourse notes payable was approximately $37,000 and $49,000 for the nine
months ended September 30, 2008 and 2007, respectively, and approximately
$12,000 and $16,000 for the three months ended September 30, 2008 and 2007,
respectively.  The decrease in interest expense is due to the
extinguishment of debt associated with Eastridge Apartments due to its sale
during the fourth quarter of 2007.  At
times, advances are made to the Local Limited Partnerships. Advances made by the
Partnership to the individual Local Limited Partnerships are considered part of
the Partnerships investment in the Local Limited Partnership. Advances made to
Local Limited Partnerships for which the investment has been reduced to zero are
charged to expense. During the nine months ended September 30, 2008 and 2007,
approximately $40,000 and $32,000 was advanced to the Local Limited
Partnerships, approximately $40,000 and $10,000, respectively, of which was
recognized as expense in the consolidated statements of operations included in
Item 1. Financial Statements.  The
Partnership, as a limited partner in the Local Limited Partnerships in which it
has invested, is subject to the risks incident to the 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 legislation which could increase vacancy levels, rental payment
defaults, and operating expenses, which in turn could substantially increase the
risk of operating losses for the projects.  The current policy of the United States Department of Housing
and Urban Development (HUD) is to not 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 current 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 current 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 rate 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.  Off-Balance Sheet
Arrangements  The Partnership owns limited
partnership interests in unconsolidated Local Limited Partnerships, in which the
Partnerships ownership percentage ranges from 90% to 99%.  However, based
on the provisions of the relevant partnership agreements, the Partnership, as a
limited partner, does not have control or a contractual relationship with the
Local Limited Partnerships that would require or allow for consolidation under
accounting principles generally accepted in the United States (see Note 1 
Organization and Summary of Significant Accounting Policies of the consolidated
financial statements in Item 1. Financial Statements).  There are no
lines of credit, side agreements or any other derivative financial instruments
between the Local Limited Partnerships and the Partnership.  Accordingly
the Partnerships maximum risk of loss related to these unconsolidated Local
Limited Partnerships is limited to the recorded investments in and receivables
from the Local Limited Partnerships.  See Note 2  Investments In and
Advances to Local Limited Partnerships of the consolidated financial statements
in Item 1. Financial Statements for additional information about the
Partnerships investments in unconsolidated Local Limited
Partnerships.  Other  In
addition to its indirect ownership of the general partnership interest in the
Partnership, AIMCO and its affiliates owned 879.5 limited partnership units (the
"Units") (or 1,759 limited partnership interests) in the Partnership
representing 10.53% of the outstanding Units at September 30, 2008. A Unit
consists of two limited partnership interests. A number of these Units were
acquired pursuant to tender offers made by AIMCO or its affiliates. It is
possible that AIMCO or its affiliates will acquire additional Units in exchange
for cash or a combination of cash and units in AIMCO Properties, L.P., the
operating partnership of AIMCO, either through private purchases or tender
offers. Under the Partnership Agreement, unitholders holding a majority of the
Units are entitled to take action with respect to a variety of matters that
include, but are not limited to, voting on certain amendments to the Partnership
Agreement and voting to remove the Corporate General Partner. Although the
Corporate General Partner owes fiduciary duties to the limited partners of the
Partnership, the Corporate General Partner also owes fiduciary duties to AIMCO
as its sole stockholder. As a result, the duties of the
Corporate General Partner, as corporate general partner, to the Partnership and
its limited partners may come into conflict with the duties of the Corporate
General Partner to AIMCO as its sole stockholder.  FASB Interpretation No.
46  As of December 31, 2004, the
Partnership adopted FASB Interpretation No. 46, Consolidation of Variable
Interest Entities (or FIN 46), and applied its requirements to all Local
Limited Partnerships in which the Partnership held a variable interest. 
FIN 46 addresses the consolidation by business enterprises of variable interest
entities.  Generally, a variable interest entity, or VIE, is an entity with
one or more of the following characteristics:  (a) the total equity
investment at risk is not sufficient to permit the entity to finance its
activities without additional subordinated financial support; (b) as a group the
holders of the equity investment at risk lack (i) the ability to make decisions
about an entitys activities through voting or similar rights, (ii) the
obligation to absorb the expected losses of the entity, or (iii) the right to
receive the expected residual returns of the entity; or (c) the equity investors
have voting rights that are not proportional to their economic interests and
substantially all of the entitys activities either involve, or are conducted on
behalf of, an investor that has disproportionately few voting rights.  FIN
46 requires a VIE to be consolidated in the financial statements of the entity
that is determined to be the primary beneficiary of the VIE.  At September 30, 2008 and
December 31, 2007, the Partnership holds variable interests in 15 VIEs for which
the Partnership is not the primary beneficiary.  The 15 VIEs consist of
Local Limited Partnerships in which the Partnership acquired an interest prior
to the adoption of FIN 46 that are directly engaged in the ownership and
management of 15 apartment properties with a total of 750 units.  The
Partnership is involved with those VIEs as a non-controlling limited partner
equity holder.  The Partnerships maximum exposure to loss as a result of
its involvement with the unconsolidated VIEs is limited to the Partnerships
recorded investments in and receivables from these VIEs, which was approximately
$364,000 at both September 30, 2008 and December 31, 2007.  The Partnership
may be subject to additional losses to the extent of any financial support that
the Partnership voluntarily provides in the future.  Critical
Accounting Policies and Estimates  The consolidated financial
statements are prepared in accordance with accounting principles generally
accepted in the United States, which require the Partnership to make estimates
and assumptions. The Partnership believes that of its critical accounting
policies, the following may involve a higher degree of judgment and
complexity.  Method of
Accounting for Investments in Local Limited Partnerships  The Partnership, as a limited partner, does not
have a contractual relationship with the Local Limited Partnerships or exercise
control over the activities and operations, including refinancing or selling
decisions, of the Local Limited Partnerships that would require or allow for
consolidation. Accordingly, the Partnership accounts for its investments in the
Local Limited Partnerships using the equity method. The Partnership is allocated
profits and losses of the Local Limited Partnerships based upon its respective
ownership percentages between 90% and 99%. The Partnership is also entitled to
99.9% of the profits and losses of REA III. REA III is entitled to a 99%
interest in each of the Local Limited Partnerships in which it has invested.
Distributions of surplus cash from operations from most of the Local Limited
Partnerships are restricted by the Local Limited Partnerships Regulatory
Agreements with the United States Department of Housing and Urban Development
(HUD). These restrictions limit the distribution to a portion, generally less
than 10%, of the initial invested capital. The excess surplus cash is deposited
into a residual receipts reserve, of which the ultimate realization by the
Partnership is uncertain as HUD frequently retains it upon sale or dissolution
of the Local Limited Partnership. The Partnership is allocated profits and
losses and receives distributions from refinancings and sales in accordance with
the Local Limited Partnerships partnership agreements.
These agreements usually limit the Partnerships distributions to an amount
substantially less than its ownership percentage in the Local Limited
Partnership.  The individual investments are carried at cost
plus the Partnerships share of the Local Limited Partnerships profits less the
Partnerships share of the Local Limited Partnerships losses, distributions and
impairment charges. The Partnership is not legally liable for the obligations of
the Local Limited Partnerships and is not otherwise committed to provide
additional support to them. Therefore, it does not recognize losses once its
investment in each of the Local Limited Partnerships reaches zero. 
Distributions from the Local Limited Partnerships are accounted for as a
reduction of the investment balance until the investment balance is reduced to
zero. When the investment balance has been reduced to zero, subsequent
distributions received are recognized as income in the consolidated statements
of operations.  For
those investments where the Partnership has determined that the carrying value
of its investments approximates the estimated fair value of those investments,
the Partnerships policy is to recognize equity in income of the Local Limited
Partnerships only to the extent of distributions received and amortization of
acquisition costs from those Local Limited Partnerships.  Therefore, the
Partnership limits its recognition of equity earnings to the amount it expects
to ultimately realize.  ITEM 4T.CONTROLS AND PROCEDURES  (a)   Disclosure
Controls and Procedures  The Partnerships
management, with the participation of the principal executive officer and
principal financial officer of the Corporate General Partner, who are the
equivalent of the Partnerships principal executive officer and principal
financial officer, respectively, has evaluated the effectiveness of the
Partnerships disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the
Exchange Act)) as of the end of the period covered by this report. Based on
such evaluation, the principal executive officer and principal financial officer
of the Corporate General Partner, who are the equivalent of the Partnerships
principal executive officer and principal financial officer, respectively, have
concluded that, as of the end of such period, the Partnerships disclosure
controls and procedures are effective.  (b)   Changes in
Internal Control Over Financial Reporting  There have been no
significant changes in the Partnerships internal control over financial
reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)
during the fiscal quarter to which this report relates that have materially
affected, or are reasonably likely to materially affect, the Partnerships
internal control over financial reporting.


PART II - OTHER
INFORMATION   ITEM
6.     EXHIBITS  See Exhibit
Index.


SIGNATURES    Pursuant to the requirements
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.     REAL ESTATE ASSOCIATES
LIMITED VIBy:  
National Partnership Investments Corp.Corporate General PartnerDate: January 22,
2009
By:  
/s/Martha L. LongMartha L. LongSenior Vice PresidentDate: January 22,
2009
By:  
/s/Stephen B. WatersStephen B. WatersVice President


REAL ESTATE ASSOCIATES
LIMITED VI EXHIBIT
INDEX   ExhibitDescription of Exhibit   3         
Articles of incorporation and bylaws: The registrant is not incorporated. The
Partnership Agreement was filed with Form S-11 #2-82090 which is hereby
incorporated by reference.  3.1       
Amendment to the Restated Certificate and Agreement of Limited Partnership of
Real Estate Associates Limited VI, filed with Current Report on Form 8-K dated
December 29, 2004, which is hereby incorporated by reference.  31.1     
Certification of equivalent of Chief Executive Officer pursuant to Securities
Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002.  31.2     
Certification of equivalent of Chief Financial Officer pursuant to Securities
Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002.  32.1      
Certification of the equivalent of the Chief Executive Officer and Chief
Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.