Recording forum, so assuming this OP does not mean BiaB.

Most DAWs, including RB do indeed allow real time FX while recording. As long as your system is up to the task it'll work.

In RB it is called Input Monitor (first image), and requires good ASIO drivers to use without latency.
After enabling you need to select that input via the track's DXi FX menu (second image) to hear it and/or record it.
Once selected you can your FX to the four slots as on any other track.




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IM-Monitor.jpg (135.81 KB, 30 downloads)
IM_select.jpg (80.77 KB, 30 downloads)
Last edited by rharv; 06/16/19 04:55 AM. Reason: images

Make your sound your own!
.. I do not work here, but the benefits are still awesome