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These days I focus on buying exact parts on BrickLink. As far as sets, I either buy them because I want them as it is, or I like the parts, or plan to use the set for modding. I do however occasionally buy partial sets o the secondary market. Things like sets without minifigs, or part of a set. This system works much better for me than buying random lots. It saves both money and space. Having said that, I do know people who buy loose lots regularly, but they also tend to be very active sellers on BrickLink. Meaning they keep the parts they want, and get rid of the rest through their BrickLink shop. Selling random parts like this though is a LOT of work.
Random lots seem to have more imagination (not sure of the Lego part#) included than boxed sets. If you want to be able to build a set from instructions, random lots may not be a good fit for you. If you enjoy building without instructions, random lots can be a great way to accumulate parts.
This of course doesn't guarantee condition of parts to be excellent or at least good. If this is a concern, then hunting for parted out new sets would be a good route. The approach can be varied where you're hunting for good offers/auctions of such gutted sets on ebay. Or you can flip the tables and hunt for good deals on whole sets that are minifig heavy (i.e. Star Wars or Superheroes) that you can gut the figs from and sell off. That way you'll end up with tons of parts real fast at a cheap rate. Considering a set like SW Final Duel, the minfigs account for 50% of the RRP so you'll basically get 700 parts for $40.
I never find Lego at thrift shops. Or if I do, it was not marked down sufficiently. Goodwill received some Ninjago sets I believe from Target, they were marked nearly at MSRP unfortunately.
Buying bulk lots online has gotten extremely competitive the last few years. It used to be you could get a decent lot without much competition. But if anyone spots pieces that could be valuable in the lot, the price gets driven up to the point where it's questionable the value is there.
And it's not about waiting for a better deal. Let it happen organically. Some people on here seem to get deals all the time (and probably spend a lot of their time hunting) but the majority only score a decent deal once in a blue moon. The key is being ready when it happens so you know what your getting. Being able to spot that chicken suit torso or ski shoe part from CC, that's what your gunning for. It only takes a few decent pieces to get your money back and then your sorting a free box of lego (which is always good).
Almost two years ago I emerged from a long "dark age" when I found a 10188 Death Star, complete except for one of the internal boxes, that also had most of a 60022 Cargo Terminal stuffed into the box. It cost me $56. I don't expect to find a deal like that again, but I'm always hopeful.
This one wasn't.