For those who didn't read in between the lines....
Instructions on how to wipe the phone clean:
1. Turn of Phone
2. Hold Volume Down+Home key+Power button
3. Enjoy your resetted phone
This can be found in the instruction manual which you can download from LG support.
Note: This is for people that have not messed with their recovery, if you have installed custom recovery, you cannot factory reset, but you can flash an entire custom ROM.
With some reading of threads and asking questions, newbies become experts.