While it may not have worked out for Spencer Pratt, Mauricio Umansky says he might throw his hat in the ring to be mayor of Los Angeles ... somewhere down the line.

Kyle Richards' ex thinks he could have what it takes to "make L.A. great again" ... adding himself to the growing list of reality TV stars attempting to hold political office ... in town and beyond.

Mauricio said on Monday's episode of the "Money Rehab" podcast ... "I'm not running for mayor yet. I never said never."

He tells host Nicole Lapin he's "thought about it a lot," but doesn't think now is the right time.

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Mauricio feels politics is "so extremist" at the moment ... and he reveals he's a registered independent.

And while he says his platform would be all about "finding balance and finding that middle," he did note that he's "more on the Republican side" ... at least financially.

Mauricio pitched a focus on Reaganomics during his hypothetical stint in office, explaining ... "We've lost so much of Hollywood. We need to give Hollywood incentives."

He also says the city's tourism will suffer if people stop filming movies and TV shows out here ... because people want a glimpse of how the magic is made.

The way Mauricio sees it ... running against the Democrats would be an uphill battle, claiming they make "unsustainable" promises to win elections.

It'll be interesting to see if Mauricio could win over voters ... or if they've had enough of celebrity candidates ... if he ever acts on this.

Stay tuned ...