Here is all I have understood till now
1) To root an LG device the first thing to do is to unlock the bootloader (Bootloader is kind of the core chipset/motherboard software. Android is installed on top of this)
2) To unlock the bootloader you need to have your device ID
3) The device ID can be obtained by connecting your phone to the PC in the "bootloader/fastboot" mode (Similar to download mode on samsung)
However the phone does not boot in the "Fastboot/bootloader mode" no matter what I try. I can see the device in ADB, I can give it a command to reboot in the "Bootloader mode". It restarts also, but then it just boots in the normal android mode. PS - I have enabled the debugging mode in the developer options and have also enabled "Enable OEM unlock". But somehow this just wont load in the "fastboot/bootloader mode".
Request to some of the Gurus here to help us(18:9 screen lovers)!