I am not that good at playing solos (fast solos), So I decided to take and practise a fast piece that would improve my playing by the time I learn it.
I need you guys to suggest me some thing like that.

I was thinking maybe 'Arpeggios From Hell' by Yngwie Malmsteen or something by Guthrie Govan.

Well, why DON'T you do those? There are hundreds of thousands of fast guitar solo pieces out there and you probably know a good few of them, so just pick one that you like, preferably one that you know well enough already to hum along note-for-note, and get practicing.

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Quote by tappooh
i definitely reccomend the solo to "daddy brother lover little boy" by mr big.

its pretty advanced but nothing really extreme, it has helped me break a few walls and maybe it will help you as well.

don't you need a drill for that o_O
Actually called Mark!

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Quote by tappooh
nice but shame on you for not doing the big stretch

You know I really wish that was me Unfortunately I am not Joel Heokstra in any way, not even close Joel is currently playing with Night Ranger
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Try the first pentatonic runs in Summer Song, by Joe Satriani, they are good to improve dexterity in your little finger (very important, as I'm sure you know), and improve your string skipping.