LGL34C wont factory data reset

When I'm trying to do a hard factory reset this is what I do and what happens:

1) power off

2) hold power key + volume down key until LG screen appears.

3) release both keys for one second then press and hold both keys again.

>>>>>>after I do step 3 the phone keeps turning off and displaying LG screen over and over and over. Not once does it go into recovery mode. Please help