In a large bowl, mix together the ground beef, chorizo, chili powder, cumin, kosher salt, oregano, and black pepper.
In a large pot or Dutch oven, add the beef and chorizo mixture and cook for 8 minutes, breaking up the meat into small pieces as it cooks. Transfer it to a medium bowl and set aside.
In the same large pot or Dutch oven, heat the olive oil over medium-high heat. Add the onions and bell peppers and cook for 5 minutes, until they start to become tender.
Stir in the garlic and red pepper flakes and cook until fragrant, about 1 minute.
Add in the cooked beef and chorizo mixture, black beans, pinto beans, diced tomatoes, tomato paste, and beef broth.
Stir together until well combined and bring to a boil. Reduce the heat to low, cover, and simmer for 45 minutes, stirring occasionally, until the chili reduces and reaches your desired consistency. Taste and season with more salt if needed.
Serve with desired toppings.
Notes
Make your own. Instead of store-bought, you can make your own homemade chorizo for this recipe.
Don't go too lean. I recommend using 80/20 beef and ground pork so it stays juicy and flavorful. Using lean ground beef and pork will get too dry and grainy.
Prefer an extra thick chili? You can reduce the amount of broth to 4 cups.
Add extra vegetables like corn kernels or roasted poblano peppers.