Combine water and beef in a large pot. Add tomatoes, onion, garlic, salt, black pepper, and bay leaves. Let stand, about 15 minutes.
Bring mixture to a boil; reduce heat and simmer, covered, about 1 hour. Add carrots; simmer until tender, about 30 minutes. Add potatoes, green bell pepper, and parsley. Simmer until potatoes are tender and beef falls easily off the bone, about 20 minutes. Remove beef with a slotted spoon. Remove bones, chop beef, and return to the pot.