Daily Bite: Carne Asada

1 pound beef round steak
8 dry red chile pods, stems and seed removed (you may substitute 1/4 cup of chile powder)
1 clove garlic
2 1/2 cups water
1 1/2 teaspoons salt
1 bay leaf
1/2 teaspoon oregano

To prepare chile sauce, blend chiles (or chile powder), garlic, and 2 cups water in blender at high speed until smooth. Cut steak into 2-inch strips. Simmer meat with bone and fat in covered skillet for 20 minutes. Remove lid, add salt, and allow liquid to evaporate and meat to brown. Add chile sauce, bay leaf, and oregano and continue to simmer for 25 minutes more.