<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 10-Q


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

                  For the Quarterly Period Ended JUNE 30, 2001

                         Commission File Number 0-13112

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A California Limited Partnership)

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

                         9090 WILSHIRE BLVD., SUITE 201
                            BEVERLY HILLS, CA. 90211

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



Indicate by check mark whether the registrant (1) has filed all documents and
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding twelve 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.


                                  Yes [X] No[ ]


<PAGE>   2




                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               INDEX TO FORM 10-Q

                       FOR THE QUARTER ENDED JUNE 30, 2001



<TABLE>
<CAPTION>
<S>      <C>                                                                     <C>
PART I.  FINANCIAL INFORMATION

      Item 1.  Financial Statements

                 Consolidated Balance Sheets,
                    June 30, 2001 and December 31, 2000 ...........................1

                 Consolidated Statements of Operations,
                    Six and Three Months Ended, June 30, 2001 and 2000.............2

                 Consolidated Statement of Partners' Equity (Deficiency)
                    Six Months Ended June 30, 2001 ................................3

                 Consolidated Statements of Cash Flows
                    Six Months Ended June 30, 2001 and 2000 .......................4

                 Notes to Consolidated Financial Statements .......................5

      Item 2.  Management's Discussion and Analysis of Financial
                 Condition and Results of Operation ..............................14


PART II.  OTHER INFORMATION

      Item 1.  Legal Proceedings..................................................16

      Item 6.  Exhibits and Reports on Form 8-K ..................................16

      Signatures .................................................................17
</TABLE>


<PAGE>   3


                        REAL ESTATE ASSOCIATES LIMITED VI
                       (a California limited partnership)

                                 BALANCE SHEETS

                       JUNE 30, 2001 AND DECEMBER 31, 2000

                                     ASSETS

<TABLE>
<CAPTION>
                                                                2001
                                                             (Unaudited)           2000
                                                             -----------       -----------
<S>                                                          <C>               <C>
INVESTMENTS IN LIMITED PARTNERSHIPS (Note 2)                 $   523,507       $   541,072
CASH AND CASH EQUIVALENTS (Note 1)                             2,784,597         3,197,380
                                                             -----------       -----------
    TOTAL ASSETS                                             $ 3,308,104       $ 3,738,452
                                                             ===========       ===========


                      LIABILITIES AND PARTNERS' DEFICIENCY

LIABILITIES:
  Notes payable and amounts due for partnership
    interests (Notes 3 and 6)                                $ 1,765,000       $ 1,765,000
  Accrued interest payable (Notes 3 and 6)                     2,133,200         2,064,801
  Accounts payable                                                26,454            16,429
                                                             -----------       -----------
                                                               3,924,654         3,846,230
                                                             -----------       -----------

COMMITMENTS AND CONTINGENCIES (Notes 4 and 5)

PARTNERS' (DEFICIENCY) EQUITY:
  General partners                                              (357,355)         (352,267)
  Limited partners                                              (259,195)          244,489
                                                             -----------       -----------
                                                                (616,550)         (107,778)
                                                             -----------       -----------
    TOTAL LIABILITIES AND PARTNERS' (DEFICIENCY) EQUITY      $ 3,308,104       $ 3,738,452
                                                             ===========       ===========
</TABLE>






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


                                        1

<PAGE>   4
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (a California limited partnership)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
            FOR THE SIX AND THREE MONTHS ENDED JUNE 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                Six months    Three months    Six months     Three months
                                                  ended          ended           ended           ended
                                              June 30, 2001  June 30, 2001   June 30, 2000   June 30, 2000
                                              -------------  -------------   -------------   -------------
<S>                                           <C>            <C>             <C>             <C>
REVENUE:
  Interest income                               $  64,513       $  20,501       $  81,622          43,337
                                                ---------       ---------       ---------       ---------
Operating expenses:
  Management fees - general partner (Note 4)      103,217          51,609         102,950          51,342
  General and administrative (Note 4)              79,343          37,696         131,236          73,530
  Interest (Note 3)                                68,400          34,200          68,400          34,200
                                                ---------       ---------       ---------       ---------
                                                  256,136         123,505         302,586         159,072
                                                ---------       ---------       ---------       ---------
LOSS FROM OPERATIONS                             (191,623)       (103,004)       (220,964)       (115,735)
                                                ---------       ---------       ---------       ---------
EQUITY IN INCOME (LOSS) OF LIMITED
  PARTNERSHIPS AND AMORTIZATION
  OF ACQUISITION COSTS (Note 2)                  (326,413)       (108,470)         24,000          12,000

DISTRIBUTIONS FROM LIMITED
  PARTNERSHIPS RECOGNIZED AS
  INCOME (Note 2)                                   9,264         141,192          14,778          14,778
                                                ---------       ---------       ---------       ---------
NET LOSS                                        $(508,772)      $ (70,282)      $(182,186)      $ (88,957)
                                                =========       =========       =========       =========
NET LOSS PER LIMITED PARTNERSHIP
  INTEREST (Note 1)                             $     (30)      $      (4)      $     (11)      $      (5)
                                                =========       =========       =========       =========
</TABLE>


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

                                        2

<PAGE>   5




                        REAL ESTATE ASSOCIATES LIMITED VI
                       (a California limited partnership)

             CONSOLIDATED STATEMENT OF PARTNERS' EQUITY (DEFICIENCY)
                     FOR THE SIX MONTHS ENDED JUNE 30, 2001
                                   (Unaudited)


<TABLE>
<CAPTION>

                                   General        Limited
                                  Partners        Partners          Total
                                 ---------       ---------       ----------
<S>                              <C>             <C>             <C>
PARTNERSHIP INTERESTS                               16,810
                                                 =========

DEFICIENCY,
   January 1, 2001               $(352,267)      $ 244,489       $(107,778)

   Net loss for the six months
   ended June 30, 2001              (5,088)       (503,684)       (508,772)
                                 ---------       ---------       ---------
DEFICIENCY,
   June 30, 2001                 $(357,355)      $(259,195)      $(616,550)
                                 =========       =========       =========
</TABLE>



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

                                        3

<PAGE>   6
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (a California limited partnership)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 FOR THE SIX MONTHS ENDED JUNE 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                        2001               2000
                                                                     -----------       -----------
<S>                                                                  <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net  loss                                                         $  (508,772)      $  (182,186)
   Adjustments to reconcile net loss to net
      cash (used in) provided by operating activities:
         Equity in loss (income) of limited partnerships                 326,413           (24,000)
         Decrease in due from NAPICO                                           -           239,770
         Increase in accrued interest payable                             68,399            53,266
         Increase in accounts payable                                     10,025            12,597
                                                                     -----------       -----------
            Net cash (used in) provided by operating activities         (103,935)           99,447
                                                                     -----------       -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
   Distributions from limited partnerships recognized as                  40,440
      as a return of capital                                                   -
   Advances to limited partnerships                                     (349,288)          (76,910)
                                                                     -----------       -----------
            Net cash used in investing activities                       (308,848)          (76,910)
                                                                     -----------       -----------
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                    (412,783)           22,537

CASH AND CASH EQUIVALENTS, beginning of period                         3,197,380         3,312,395
                                                                     -----------       -----------
CASH AND CASH EQUIVALENTS, end of period                             $ 2,784,597       $ 3,334,932
                                                                     ===========       ===========
</TABLE>





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

                                        4


<PAGE>   7


                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                  JUNE 30, 2001


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         GENERAL

         The information contained in the following notes to the financial
         statements is condensed from that which would appear in the audited
         annual financial statements; accordingly, the financial statements
         included herein should be reviewed in conjunction with the financial
         statements and related notes thereto contained in the annual report for
         the year ended December 31, 2000 prepared by Real Estate Associates
         Limited VI and Subsidiaries (the "Partnership"). 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, the accompanying unaudited financial
         statements contain all adjustments (consisting primarily of normal
         recurring accruals) necessary to present fairly the financial position
         of the Partnership at June 30, 2001 and the results of operations and
         changes in cash flows for the six and three months then ended.

         The general partners have a 1 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. National Partnership Investments Corp. (NAPICO)
         is the managing general partner of the Partnership. Casden Properties
         Inc. owns a 95.25% economic interest in NAPICO, with the balance owned
         by Casden Investment Corporation ("CIC"). CIC, which is wholly owned by
         Alan I. Casden, owns 95% of the voting common stock of NAPICO.

         BASIS OF PRESENTATION

         The accompanying financial statements have been prepared in conformity
         with accounting principles generally accepted in the United States of
         America.

         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.



                                       5
<PAGE>   8
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

         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.

         METHOD OF ACCOUNTING FOR INVESTMENT IN THE UNCONSOLIDATED LIMITED
         PARTNERSHIPS

         The investments in unconsolidated limited partnerships are accounted
         for on the equity method. Acquisition, selection and other costs
         related to the acquisition of the projects are 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.

         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.

         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 the periods presented.

         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.




                                       6
<PAGE>   9

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

         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.

NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS

         The Partnership holds limited partnership interests in 20 limited
         partnerships as of June 30, 2001. In addition, the Partnership holds a
         general partner interest in REA III, which in turn, holds limited
         partner interests in 3 additional limited partnerships. In total,
         therefore, the Partnership holds interests, either directly or
         indirectly through REA III, in 23 partnerships, located in 13 different
         states, which owned as of June 30, 2001, 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 is 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 in the aggregate
         approximately $11,612,000 and $11,357,000 as of June 30, 2001 and
         December 31, 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.



                                       7
<PAGE>   10
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001



NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

         The following is a summary of the investment in unconsolidated limited
         partnerships for the six months ended June 30, 2001:

<TABLE>
<S>                                                                   <C>
         Balance, beginning of period                                 $541,072
         Equity in loss of limited partnerships                       (326,413)
         Advances to limited partnerships                              349,288
         Distribution recognized as a return of capital                (40,440)
                                                                      --------
         Balance, end of period                                       $523,507
                                                                      ========
</TABLE>

         The following are unaudited combined estimated statements of operations
         for the six and three months ended June 30, 2001 and 2000 of the
         unconsolidated limited partnerships in which the Partnership has
         investments:


<TABLE>
<CAPTION>

                                       Six months     Three months     Six months     Three months
                                          ended           ended          ended           ended
                                      June 30, 2001   June 30, 2001   June 30, 2000   June 30, 2000
                                      -------------   -------------   -------------   -------------
<S>                                    <C>              <C>            <C>              <C>
         REVENUES:
             Rental and other          $4,948,000       $2,474,000     $ 4,964,000      $2,482,000
                                       ----------       ----------     -----------      ----------

         EXPENSES:
             Depreciation                 806,000          403,000         802,000         401,000
             Interest                   1,294,000          647,000       1,338,000         669,000
             Operating expenses         3,068,000        1,534,000       3,038,000       1,519,000
                                      -----------      -----------     -----------      ----------
                  Total expenses        5,168,000        2,584,000       5,178,000       2,589,000
                                      -----------      -----------     -----------      ----------
                           Net loss   $  (220,000)     $  (110,000)    $  (214,000)     $ (107,000)
                                      ===========      ===========     ===========      ==========
</TABLE>

         NAPICO, or one of its affiliates, is the general partner and property
         management agent for certain of the limited partnerships included
         above. The Local Partnerships pay the affiliate property management
         fees in the amount of 5 percent of their gross rental revenues and data
         processing fees. The amounts paid were approximately $61,613 for the
         six months ended June 30, 2001.



                                       8
<PAGE>   11

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

         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"), which was
         adopted in October 1997, 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.

         On December 30, 1998, after obtaining the consent of the limited
         partners, the Partnership sold its limited partnership interests in 10
         local limited partnerships and its general partner interest in one
         local general partnership to subsidiaries of Casden Properties Inc. The
         sale resulted in cash proceeds to the Partnership of $1,397,081 which
         was 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, primarily using proceeds from the sale of the
         partnership interests.




                                       9
<PAGE>   12

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 3 - NOTES PAYABLE

         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
         percent per annum and have principal maturities ranging from December
         1999 to December 2012.

         The notes and related interest are payable from cash flow generated
         from operations of the related rented 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 on the notes and related accrued interest payable are as
         follows:
<TABLE>
<CAPTION>

              Year Ending                              Accrued
              December 31,          Notes             Interest
              ------------       -----------        -----------
              <S>                <C>                <C>
                  2001            $  520,000         $  823,087
                  2002
                  2003
                  2004
                  2005               750,000            947,334
              Thereafter             170,000            362,779
                                  ----------         ----------
                                  $1,440,000         $2,133,200
                                  ==========         ==========
</TABLE>

         Note and related accrued interest payable, aggregating $1,343,087 as of
         June 30, 2001 became payable in 1999.

         Management is in the process of attempting to negotiate an extension of
         the maturity date on the past due note payable.




                                       10
<PAGE>   13

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 4 - MANAGEMENT FEES AND EXPENSES DUE TO 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 of approximately .4 percent of the original invested
         assets of the limited partnerships. 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 partnerships. This fee was
         approximately $103,217 and $131,000 for the six months ended June 30,
         2001 and 2000, respectively.

         The Partnership reimburses NAPICO for certain expenses. The
         reimbursement to NAPICO was approximately $11,370 and $20,600 for the
         six months ended June 30, 2001 and 2000, respectively, and is included
         in general and administrative expenses.

NOTE 5 - CONTINGENCIES

         On August 27, 1998, two investors holding an aggregate of eight units
         of limited partnership interests in Real Estate Associates Limited III
         (an affiliated partnership in which NAPICO is the managing general
         partner) and two investors holding an aggregate of five units of
         limited partnership interest in the Partnership commenced an action in
         the United States District Court for the Central District of California
         against the Partnership, NAPICO and certain other affiliated entities.
         The complaint alleges that the defendants breached their fiduciary duty
         to the limited partners of certain NAPICO managed partnerships and made
         materially false and misleading statements in the consent solicitation
         statements sent to the limited partners of such partnerships relating
         to approval of the transfer of partnership interests in limited
         partnerships, owning certain of the properties, to Casden Properties
         Inc., which was organized by an affiliate of NAPICO. The plaintiffs
         seek equitable relief, as well as compensatory damages and litigation
         related costs. On August 4, 1999, one investor holding one unit of
         limited partnership interest in Housing Programs Limited (another
         affiliated partnership in which NAPICO is the managing general partner)
         commenced a virtually identical action in the United States District
         Court for the Central District of California against the Partnership,
         NAPICO and certain other affiliated entities. NAPICO, the managing
         general partner of such partnerships, and the other defendants believe
         that the plaintiffs' claims are without merit and are contesting the
         actions vigorously.




                                       11
<PAGE>   14

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                  JUNE 30, 2001


NOTE 5 -- CONTINGENCIES (CONTINUED)

         The managing general partner of the Partnership is involved in various
         lawsuits and have also been named defendants 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.

NOTE 6 - 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 mortgage notes payable are insured by HUD and
         are collateralized by the rental properties. The notes payable are
         collateralized by the Partnership's investments in investee limited
         partnerships and are payable only out of cash distributions from the
         investee partnerships. The operations generated by the property and
         investee limited partnerships are subject to various government rules,
         regulations and restrictions which make it impracticable to estimate
         the fair value of the mortgage note payable and the notes payable and
         related accrued interest. The carrying amounts of other assets and
         liabilities reported on the balance sheets that require such disclosure
         approximate fair value due to their short-term maturity.



                                       12
<PAGE>   15

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                  JUNE 30, 2001


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS

         LIQUIDITY AND CAPITAL RESOURCES

         The Partnership's primary sources of funds include interest income on
         short term investments and distributions from 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 limited
         partners in any material amount. The Partnership made a distribution to
         investors in June 30, 2001, previously using proceeds from the
         disposition of its investments in certain limited partnerships.

         RESULTS OF OPERATIONS

         Rental operations consist primarily of rental income and depreciation
         expense, debt service, and normal operating expenses to maintain the
         properties. Variances in rental operations from the prior year to the
         current year relate to the sale of the Drexel Property.

         Partnership revenues consist primarily of interest income earned on
         certificates of deposit and other temporary investment of funds not
         required for investment in local partnerships.

         Operating expenses consist primarily of recurring general and
         administrative expenses and professional fees for services rendered to
         the Partnership. In addition, an annual Partnership management fee in
         an amount equal to .4 percent of invested assets is payable to the
         corporate general partner.

         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. Losses incurred after the limited partnership
         investment account is reduced to zero are not recognized in accordance
         with the equity accounting method.

         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.



                                       13
<PAGE>   16

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                  JUNE 30, 2001


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

         RESULTS OF OPERATIONS (CONTINUED)

         Except for certificates of deposit and money market funds, the
         Partnership's investments are entirely from interests in other limited
         and general partnerships owning government assisted projects. Available
         cash is invested in these funds earning interest income as reflected in
         the statement of operations. These funds can be converted to cash to
         meet obligations as they arise.

         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"), which was
         adopted in October 1997, 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.



                                       14
<PAGE>   17

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                  JUNE 30, 2001


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

         RESULTS OF OPERATIONS (CONTINUED)

         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.

         On December 30, 1998, the Partnership sold its limited partnership
         interests in 10 local limited partnerships and its general partner
         interest in one local general partnership to subsidiaries of Casden
         Properties Inc. The sale resulted in cash proceeds to the Partnership
         of $1,397,081 which was collected subsequent to year-end. In March
         1999, the Partnership made cash distributions of $2,769,110 to the
         limited partners and $27,971 to the general partners, primarily using
         proceeds from the sale of the partnership interests.

         Note and related accrued interest payable, aggregating $1,343,087 as of
         June 30, 2001 became payable in 1999.

         Management is in the process of attempting to negotiate an extension of
         the maturity date on the past due note payable.



                                       15
<PAGE>   18

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                  JUNE 30, 2001


PART II.  OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

On August 27, 1998, two investors holding an aggregate of eight units of limited
partnership interests in Real Estate Associates Limited III (an affiliated
partnership in which NAPICO is the managing general partner) and two investors
holding an aggregate of five units of limited partnership interest in the
Partnership commenced an action in the United States District Court for the
Central District of California against the Partnership, NAPICO and certain other
affiliated entities. The complaint alleges that the defendants breached their
fiduciary duty to the limited partners of certain NAPICO managed partnerships
and made materially false and misleading statements in the consent solicitation
statements sent to the limited partners of such partnerships relating to
approval of the transfer of partnership interests in limited partnerships,
owning certain of the properties, to Casden Properties Inc., which was organized
by an affiliate of NAPICO. The plaintiffs seek equitable relief, as well as
compensatory damages and litigation related costs. On August 4, 1999, one
investor holding one unit of limited partnership interest in Housing Programs
Limited (another affiliated partnership in which NAPICO is the managing general
partner) commenced a virtually identical action in the United States District
Court for the Central District of California against the Partnership, NAPICO and
certain other affiliated entities. NAPICO, the managing general partner of such
partnerships, and the other defendants believe that the plaintiffs' claims are
without merit and are contesting the actions vigorously.

The Partnership's managing general partner is involved in various lawsuits. None
of these lawsuits are related to the Partnership.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

         (a)      No exhibits are required per the provision of item 7 of
                  regulation S-K and no reports on Form 8-K were filed during
                  the quarter ended June 30, 2001.


                                       16
<PAGE>   19

                        REAL ESTATE ASSOCIATES LIMITED VI
                             (A LIMITED PARTNERSHIP)

                                  JUNE 30, 2001


                                   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 VI AND
                                SUBSIDIARIES (a California limited partnership)


                                By:  National Partnership Investments
                                     Corp., General Partner


                                      /s/ BRUCE NELSON
                                     ---------------------------------------
                                     Bruce Nelson
                                     President


                                Date:  August 14, 2001
                                     ---------------------------------------


                                      /s/ BRIAN H. SHUMAN
                                     ---------------------------------------
                                     Brian H. Shuman
                                     Chief Financial Officer


                                Date:  August 14, 2001
                                     ---------------------------------------



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