Hi there, I have been playing the drums since I was 5 years old and consider myself pretty damn good at that. (I'm not a big head really) I recently decided I fancied my hand at guitar (I figure anything Phil Collins can do I can do better!!) and am picking it up pretty quick but have very little knowledge though I am learning. If there is such a thing I want an effects pedal that has most effects in but also I want to be able to record a loop and just improvise soloing over that. Bearing in mind also the cost I really don't have hundreds to be spending at the mo. I don't know if such a thing exists but some help from you much seasoned guitarists would be much appreciated...please be in touch
Boss Loop Station or Line6 do one too.

They're both pretty expensive though.
If video games make you violent, does monopoly make you a millionaire?
Try looking into a Boss ME 70.
I recently purchased one.
It's an awesome piece of technology.
I don't regret shelling out the ducats for it.
It's got everything you're looking for.
Pricewise ($299) ,you might look into "used".