Heat a large dutch oven or heavy bottomed pot on medium high heat.
Add olive oil to pot.
Add ground beef and cook until almost browned thru; about 5-8 minutes.
Add chorizo to pot and cook until brown and crispy.
Add chopped onions and bell peppers and give the pot a stir. Add a pinch of salt and cook until softened, about 5 minutes. Veggies wil be translucent but not cooked all the way through.
Add garlic and cook for an additional 30 seconds, until fragrant.
Stir in salt, pepper, chili powder, cumin, and coriander. Stir in tomato paste and cook for a few minutes, until paste has started to brown slightly.
Add rotel, fire roasted tomatoes, beef broth, and water. Stir until combined.
Allow pot to come to a simmer and then reduce heat. Let simmer for at least 30 minutes. Chili will cook down slightly and thicken.
Taste and adjust seasoning as needed. Serve immediately.