This is the link with all the help and the steps I took to unbrick my tablet. Although the thread was for another model, the help I'm given is for the LG G-Pad 7.0 v410.
http://androidforums.com/threads/twrp-bootloop-fix-after-update-ota.922585/
I basically had to flash TWRP recovery and then the stock ROM (which was rooted). Check #37 of the above link.
If you want to upgrade to lollipop you will have to flash custom recovery and unroot the tablet.
Things you may need:
TWRP recovey found
here. Scroll half way down, make sure you use the right image for your model.
Stock ROM found
here. Note that stock rom is rooted.
Minimal ADB and Fastboot found
here. Or you can use adb.
If you need any more help, please let me know.