In a pan, combine oil, bell peppers, onion, garlic, sausage, cilantro, olives, Sazon and black pepper. Sauté together just until vegetables soften. Make sure you don't burn garlic.
After about 2 minutes on medium-high heat, pour in water or chicken broth and bring to a boil. At this point, you can taste to see if you need the salt. After it comes to a boil, add rice. Stir to make sure the flavor is combined with the rice.
Let it boil on high until the liquid evaporates. Bring down to a simmer. Stir rice to the middle, forming a hill in the middle of the pan with the rice. Cover and let cook for about 30 minutes. Serve with any meat or a nice salad. Enjoy!