Achiote paste gives it the color and to some extent the coating. To that you add orange and lime or sour oranges if you can get them, then onions and garlic and Mexican oregano. You can make your own paste from annato but that is a labor of love.
I would go with healthierkitchen's mojo recipe. But fajitas, the dish itself is really a Texican thing and not truly hispanic. I think there are probably some unfortunate young women in Texas whose given name is Fajita.
You may be thinking of mojo (pronounced MOE HOE). I like Bobby Flay's recipe for homemade, but you can also buy it in bottles from Mexican grocers. Rick Bayless also has a great lime and garlic mojo recipe.
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http://food52.com/recipes/7207_flank_steak_in_mojo_criollo